Syrian Council To Manpower Minister: Increase Syrian Labor To 30%

Khaldoun al-Mowakaa, Chairman of the Egyptian Syrian Business Council, said the council has spoken to the Minister of Manpower and immigration over increasing the rates of the Syrian labor in the new factories in Badr City to reach 30% instead of 10%; indicating that the council is aiming to discuss the obstacles and problems facing the Syrian investments in the Egyptian markets.

Khaldoun al-Mowakaa, in his statements to “Amwal Al Ghad”, proclaimed that the Syrian investments in Egypt will not compete against the Egyptian industry, but these investments only aim at exporting as well as utilizing from the trade agreements between Egypt and Syria, besides many countries and economic conglomerations.

In 2012, the volume of the Syrian investments in Egypt didn’t exceed $ 1 billion. These investments were mainly in the textile sector, food industries, chemical industries and restaurants, which serve Syrian food.

Al- Mowakaa added that the council aims to increase the Syrian investments in the Egyptian market to $ 1.5 billion by the end of 2014; emphasizing that many Syrian businessmen seek to invest in Egypt and make use of the promising investment opportunities here.