Industry Min.: Coordination underway with Presidency, CBE, Finance Ministry to alleviate burdens on manufacturers

Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Wazir said Thursday the ministerial group for industrial development is ready to offer all needed support for struggling factories in case of facing technical and administrative problems. The minister said during the third meeting of the ministerial group for industrial development that struggling factories can benefit from the presidential initiative Ebda (or Start) to secure financial solutions. Wazir said coordination is underway with the presidency, the Central Bank of Egypt (CBE) and the Ministry of Finance to alleviate burdens on manufacturers. He also said the government is serious about putting into effect the law on preferring local products in governmental tenders in order to give an impetus to local manufacturers to increase production. The minister said five plots of lands at a total of 2 million square meters will be allocated for the Industrial Development Authority to lure investments of foreign an d local investors. He noted that the ministry established an investors support unit to quickly address investors' requests and complaints. Meantime, the minister reviewed directives issued by President Abdel Fattah El Sisi during a meeting held last week with the government. Source: State Information Service Egypt