The establishment of 1,000 new factories which were part of President Hosni Mubarak’s election program have been completed, Trade and Industry Minister Rachid Mohamed Rachid told a symposium held in Alexandria last week.
Some 1,150 factories have been established so far, Rachid said, adding that the rate of economic growth will surpass 5 percent this year to reach 6 percent next year.
Rachid noted that about 1,000 new exporters are to enter the Egyptian market over the coming four years in line with the ministry’s strategic plan to double Egypt’s exports.
The ministry is seeking to provide about 700,000 new job opportunities over the coming period through new trade and industry projects, he added.
