Printing sector eyes $1bn investments until 2020- Egypt’s IMC

Egypt’s printing and packaging sector targets investments worth US$1 billion until the end of 2020,  Ahmed Taha – executive director of Industrial Modernisation Centre (IMC)- stated Wednesday.

Taha made these remarks during a conference held Wednesday to announce the strategy of printing sector and organised by the chamber of printing and packaging.

The official said that the total investments in the Egyptian printing sector -whether official or unofficial- are estimated at around 8 billion Egyptian pounds, including 8,000 workers.

About the strategy, Taha pointed out that it has been developed by IMC in cooperation with printing chamber to upgrade printing sector’s competitiveness in addition to attracting new investments as well as boosting production and labour volume by 10 percent.

Moreover, The exports of Egypt’s printing and packaging sector are estimated at around US$133 million annually, i.e. 86 million tonnes while the imports are worth US$250 million, i.e. 96 million tonnes, Taha added.