IIGS Demands Linking Exports’ Support to Rates of Domestic Manufacturing

The Industrial Investors’ General Syndicate (IIGS) has called for reviewing all the decisions and procedures relate to the subsidy, setting disciplines and connecting the subsidy to the rates of domestic manufacturing; paving the way to boost the domestic manufacturing and increasing the job opportunities.

Mr. Mohi Hafez, Vice President of the Industrial Inventors’ General Syndicate (IIGS), underscored the necessity of accurately determining the rates and dates of exchange, as the exporter often sells at the cost price or less due to the sever competitiveness.

Hafez revealed that 80% of the volume of exports’ support allocations goes to the senior exporters, so supporting the exports should be reconsidered as a key component of the commodity.

The Vice President also called for expanding in the logistical centers in the countries that intensively import the Egyptian product; aiming at protecting the Egyptian exporters.