Plan to boost construction exports to $7.5 bn by 2008
CAIRO: The government is poised to provide more support to the construction and building industry to increase the industry’s annual turnover to $25 billion (LE 145 billion) by 2008.
Haytham Diab, the executive director of the Export Promotion Center, said the center’s main job over the coming period is to support Egyptian construction companies and promote their competitiveness in the international markets, which will increase the industry’s exports to $7.5 billion (LE 43 billion) a year in 2008 in addition to $18 billion (LE 103 billion) of turnover in the domestic market.
“The center has already developed a plan of action with the Construction Commodity Council to help Egyptian companies penetrate the regional markets and invest in the construction boom in the Arab countries, especially in the Gulf area, Diab added.
The center’s plan of action sets a target of 20 percent a year for growth in the industry’s exports over the coming two years.
Overall turnover of the building and construction industry amounted to $15 billion (LE 85 billion), of which $4 billion (LE 23 billion) was produced by cross-border activities.
Launched in cooperation between the Export Promotion Center and the Construction Commodity Council, the plan compares the competitive capacities of Egyptian companies with international counterparts and focuses on the improvement of human resources and development of smart marketing policies. NOOZZ
