Egypt, EU to implement pound 8M program to support industry

The Egyptian government has entered into an pound 8 million agreement with the European Union (EU) under the EU Tigara program, aimed at bolstering trade, industry, growth, and swift market access. This initiative, as per the Ministry of Planning and International Cooperation, has dual objectives: fortifying Egypt's enterprise growth and trade mechanisms while enhancing the participation of small and medium-sized Egyptian businesses in industrial value networks. The agreement, orchestrated to span 60 months, will be executed through the United Nations Industrial Development Organization (UNIDO) in conjunction with the Ministries of Industry, Investment, and Foreign Trade, alongside the EU. Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel El-Wazir, highlighted that the accord is geared towards amplifying the efficiency of Egypt's private sector, fostering economic growth, and generating quality employment opportunities. El-Wazir emphasized that the Ministry of Industry is actively pursuing a comprehensive strategy, focusing on 7 key areas, aligning with President Abdel Fattah El-Sisi's vision to position Egypt as a hub for regional industrial activities. Minister of Planning and International Cooperation, Rania Al-Mashat, underscored that skill development and training represent crucial facets of collaboration with the EU, with the aim of attracting both local and foreign investments in strategic sectors vital to the nation's overarching goals. Source: State Information Service Egypt