Egypt Industry: Plans to hold specialised fairs to bridge gap between imports, exports
The Egyptian ministerial group for industrial development held its fourth meeting on Thursday to address the challenges facing the Egyptian industry and explore ways to support investors and enhance industrial growth.
‘Negative exhibitions’
During the meeting, Deputy Prime Minister for Industrial Development, Kamel El Wazir directed the organisation of specialised exhibitions to connect manufacturers with suppliers. These ‘negative exhibitions’, where importers will showcase their imported goods, allowing local factories to assess the availability of comparable domestically-produced alternatives, aim to foster industrial integration and address the production needs of local industries.
The Ministry of Military Production and the Arab Organisation for Industrialisation (AOI), along with the Industry Modernisation Centre (IMC), were tasked with facilitating these events.
Minister of State for Military Production, Mohamed Salah Eddin has pledged to support private sector partners in developing industrial projects. This includes offering assistance with establishing production lines, storage facilities, and providing industrial land. By bridging the gap between imports and exports, these initiatives aim to promote local manufacturing and reduce reliance on foreign goods.
SME definition
The group also decided to propose amendments to the definition and description of small and medium-sized enterprises (SMEs).
Attribution: Egyptian Cabinet
Subediting: Y.Yasser
