MOI Raises Exports To Rescue The Economy

The ministry of industry and foreign trade designed a comprehensive plan to rescue the Egyptian economy depending on 5 main themes.

The most prominent theme will be the increase of exportation percentage in a range from 25% to 30%, beside the other important themes such as, re-operating the hindered factories, constituting a unified structure from the small and medium sized industries and attach them to the big sized industries, setting an nontraditional facilities bundle to attract the foreign investors, and holding intensive meetings with banking officials to reschedule the loans of stumbled factories beside creating new financing methods to help them.

Dr. Mahmoud Essa – The minister of industry and foreign trade – confirmed that the ministry is very keen on increasing the growth rates in the industry and exportation sectors, as a contribution in improving the economic position during the current and future stages, and he also mentioned that the ministry is executing an integrated plan currently to deal with the continuous variables witnessed by the Egyptian economy, which played a big role in the decline of economic growth rates.

Regarding the development of exports and rationalizing imports, Dr. Mohamed said that there is a set of controls that should improve the trade balance is being designed currently to narrow the gap between exports and imports and increase the effectiveness of programs that promote exports, especially promotional delegations and international exhibitions, and he added that focusing on new markets in African, Asian and Latin American countries is also very important,

The minister also mentioned that a plan for trade fairs and delegations will cover these foreign markets to create the opportunity of the effective participation for small and medium enterprises, as well as raising the efficiency of exports development programs that are funded by the exports Development Fund, in order to achieve the ideal use of resources and the rehabilitation of small and medium enterprises to prepare them to participate in the exportation process.