200 engineering industries factories benefit from Egypt c.bank SME initiative

200 factories of engineering industries have benefited from the Central Bank of Egypt’s (CBE) initiative designated to support small and medium-sized projects.

In press conference, Mohamed El Mohandes, chairman of Egypt’s Chamber of Engineering Industries, added that the chamber targets re-operating factories halted works since January due to financial default.

200 factories of engineering industries have benefited from the Central Bank of Egypt’s (CBE) initiative designated to support small and medium-sized projects.

In press conference, Mohamed El Mohandes, chairman of Egypt’s Chamber of Engineering Industries, added that the chamber targets re-operating factories halted works since January due to financial default.

El Mohaneds showcased his chamber’s plans to increase a number of factories participating in the exporting process.

The sector’s exports reached 18 billion Egyptian pounds ($1 million) thanks to four or five factories only, he added.

He further referred that chamber has put four factors to work on until 2019, notably re-operating faltering factories, supporting SME industries, and restoring the confidence of Egyptian customers in national products.