Timber Sector Receives EGP331 mln New Investments In 2012

The timber sector received EGP 331 million new industrial investments during 2012, distributed on 102 new facilities, and provided 1720 direct job opportunities.

According to data of the Industry Ministry to”Amwal Al Ghad”, the annual average of the production value of these investments is EGP 302 million. The data also referred that most of these factories in this governorate represent 60% of the new investments.

Although the investment expansion and the new facilities that the sector is witnessing, but the timber sector in Egypt is suffering several problems, like the lack of the qualified workforce, the market’s instability, and the decline of the global demand on the Egyptian products of furniture in general, Osama El Tabei, Head of Demiatte Investors Association, told “Amwal Al Ghad”.

El Tabei has called on the state to provide more incentive measures in order to virtually support this significant industrial sector, which can contribute to Egypt’s economic renaissance by injecting additional values to Egypt’s GDP.