Egypt’s Trade deficit reduced by $18 billion: Minister of Trade

CAIRO – 24 July 2017: The trade deficit has been reduced by $18 billion in the last 18 months , and the first model for boosting exports is to be inaugurated next September, Minister of Trade and Industry Tarek Kabil stated Monday.

More than 1,573 industrial projects have been launched and some 15,000 workers have been trained and hired, going with the “Training for Employment” national project, Kabil said in the fourth National Youth Conference’s “Egypt Vision 2030” in Alexandria.

“We aim to help investors and link them together, and we offer lands at a half-off price, as our purpose is development rather than selling lands,” Kabil added.

Kabil announced the attempts to turn from random industrial collections to well-organized ones, according to studied plans. There’s a presidential proclamation to construct an industrial organization following the “Golden Triangle” project and based on industry, mining and tourism.

Egypt’s President Abdel Fatah al-Sisi participated in the fourth National Youth Conference’s “Egypt Vision 2030” on Monday, which aims to place Egypt on track to having a competitive and balanced economy that depends on knowledge, creativity, justice, social cohesion and balanced yet diverse participation, as described by their official page.