Egypt's non-oil exports achieved $32B for 1st time

CAIRO - 14 February 2022: Minister of Trade and Industry Nevin Gamea said that for the first time, Egyptian non-oil exports achieved $32 billion.

 

The minister pointed out that oranges and strawberries are among the largest exports, and many export sectors such as the pharmaceutical sector have been helped and all exporters' arrears have been paid since 2016.

 

Gamea added that there is interest in exports to Africa and support for exporters to support increasing exports to Africa and export programs supported by the state.

 

“We seek to reach a volume of exports of $100 billion, which is not far-fetched,” She added.

 

She added that the Cabinet issued Resolution No. 3265 for the year 2021 to form an executive council to deepen the local product headed by the Minister of Industry, which includes the ministers of finance, military production and planning, and a number of agencies in order to coordinate to deepen the local product.

 

Gamea confirmed the formation of a committee from the Industrial Development Authority and Local Administration, to solve all the problems of delaying the granting of industrial lands to investors, noting that land allocation is one of the most important problems facing investors.

 

This came during the Senate's plenary session, chaired by Counselor Bahaa El-Din Abu Shoqa, Undersecretary of the Council, while discussing the report of the Industry and Small Enterprises Committee, on the policies of the Ministry of Trade and Industry to deepen local industrialization and develop Egyptian exports.

 

In her speech, the minister also said that the priority in granting land to investors is for activities that need expansion, as well as the investor's need for an activity complementing the activity in which he works.

 

She pointed out that the industrial complexes in many governorates at the level of the Republic have conditions that are more than stimulating to investors, pointing out that there are approximately 17 industrial complexes at the level of the Republic.

 

Gamea explained that 7 industrial complexes have been launched so far, and here 5 are under construction and are nearing completion, pointing out that the largest percentage of industrial complexes are located in the governorates of Upper Egypt, stressing that Upper Egypt has 10 industrial complexes out of 17 complexes.

 

The Senate plenary session discussed the discussion request submitted by Representative Mohamed Halawa, head of the Senate Industry Committee, to deepen the local product.