Investment Minister Discusses Support For Industry With FEI Chief

(MENAFN- Daily News Egypt) Mohamed Farid, Minister of Investment and Foreign Trade, has met with Mohamed El Sewedy, Chairperson of the Federation of Egyptian Industries (FEI), to discuss ways to strengthen support for the industrial sector and enhance the competitiveness of the Egypt economy.

During the meeting, the two sides reviewed opportunities to expand cooperation between the Ministry of Investment and Foreign Trade and the Federation of Egyptian Industries in a way that supports industrial development and strengthens production capacity.

Farid reaffirmed the ministry's commitment to maintaining open channels of communication with the federation to advance Egyptian industry, support domestic production and enhance the competitiveness of Egyptian products in both local and international markets.

He highlighted the importance of strengthening joint efforts to improve the investment climate, stimulate industrial production and expand Egyptian exports to global markets.

Farid also noted that coordination and consultation between the ministry and the federation will continue during the coming period in support of the state's broader efforts to attract investment and reinforce the role of the industrial sector as a key driver of economic growth.

For his part, El Sewedy expressed the federation's appreciation for the ministry's efforts to support the industrial sector, affirming the organisation's readiness to cooperate in implementing initiatives and policies aimed at enhancing the competitiveness of national industry and increasing its contribution to the economy.

The meeting also addressed several issues related to improving the business environment and overcoming challenges facing investors and industrialists. Discussions further covered opportunities to strengthen supply chains and deepen local manufacturing in a way that supports sustainable economic development.

The two sides additionally reviewed recent discussions on studying the establishment of specialised investment funds to finance industrial projects. Such funds would provide sustainable financing for factories, helping them expand production capacity and scale their operations.

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