The Egyptian Minister of Trade and Industry Ahmed Samir asserted the importance of realisng integration between the legislative and the executive authorities to achieve all-out and sustainable economic development.
In an expanded meeting on Wednesday with members of the House of Representatives Industrial Committee, the minister highlighted the committee’s important role in supporting local industry, along with current challenges besetting the industrial sector.
Samir underscored the importance of rallying efforts of all State’s bodies, with a view to increasing the industrial sector’s contribution to upping the Growth Domestic Product (GDP), through increasing volume of investments in current ventures, luring more investments to new industrial generated sectors and localizing the nuts and bolts required for local industries.
Meantime, he pointed out to the necessity of updating local industry value chains to achieve integration among the various industrial sectors in Egypt.
The minister said his ministry will work over the upcoming period on facilitating measures for obtaining licenses and activating the mechanism that has been recently approved by the Cabinet pertaining to industrial lands to reach upmost benefit from factories’ production capacity.
The ministry will further work on providing financing mechanisms to fund new investment expansions in the various industrial sectors, he said.
