Egypt’s Prime Minister Mostafa Madbouly said the country is aiming to touch $100 billion in exports by 2030, with the main focus on enhancing industrialization and boosting investments.
The meeting took place at the government building in the New Administrative Capital. It emphasized on several ways to make Egyptian products more competitive, increase their market share, and provide support to exporters.
Ali El-Sisi, assistant minister of Finance for the General Budget, was present in the meeting. Amani El-Wassal, executive director of the Export Development Fund and Head of the Trade Agreements Sector at the Ministry of Trade and Industry; and Nevin Mansour, advisor to the Deputy Minister of Finance for Financial Policies and Institutional Development also participated.
Key highlights
The government’s ambitious strategy to boost exports was highlighted by the PM Madbouly. He emphasized the continuous efforts to advance industrialization, provide incentives for investment, and create Egyptian goods.
These initiatives are consistent with the country’s goals of expanding its foreign exchange reserves and the volume of locally produced goods.
Trade and Industry minister Ahmed Samir highlighted the steps taken for export support initiatives between 2019 and 2023. Over the period, non-petroleum exports have increased by 40 percent as a result of these measures, which were carried out in association with the ministry of finance.
In the meeting, the process for assessing the efficacy of the existing export assistance intiatives in reaching goals for individual activities and export markets was also discussed.
PM Madbouly also emphasised how crucial it is to pay Egyptian exporters back for their costs as soon as possible in order to promote growth and expansion.
Additionally, he emphasised the necessity of accelerating the export support system’s automation.
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