Egypt’s Prime Minister Mostafa Madbouly met on Sunday with Deputy Chairperson of the Federation of Egyptian Industries (FEI) Tarek Tawfik and Chairperson of the Food Export Council (FEC) Hani Berzi to discuss boosting Egyptian food exports.
Madbouly emphasised that the government pays great interest to the industrial and export sectors, and is working to provide more facilities and incentives that would advance these sectors.
These sectors are essential to achieving economic goals, Madbouly added, pointing out that the recent meetings held to formulate a clear program to stimulate Egyptian exports.
Berzi said that previous meetings, which brought together several officials of the export councils, led to a set of proposals for the export stimulus program. Also, they discussed the restoration of export subsidies, leading to an integrated vision on the proposed new program in this regard.
Berzi touched on the proposals for supporting the Egyptian export sector during the period from 2023 to 2025. He pointed out that work is being done to speed up the disbursement of export subsidies within a period not exceeding 3 months from the date of submitting the documents related to each.
Tawfik explained that export support is one of the tools, but there are many other tools and mechanisms that would increase the volume of exports.
According to him this includes, supporting and motivating large exporting companies, and working to overcome any obstacles that may face the work of these companies, and facilitating their procedures.
Tawfik stressed the importance of speedy customs release of goods, and the availability of more facilities in this regard, especially production requirements, in a way that contributes to supporting the industry and export sector.
He emphasised the importance of targeting industries and sectors in which Egypt has a competitive advantage, and communicating and negotiating with major global manufacturers in those sectors. This aims to localise and deepen these industries, pointing out that “building confidence” is the key for attracting more domestic and foreign investments.
