The Investors Division of the General Federation of Chambers of Commerce, headed by Deputy Speaker Mohamed Abou El-Enein, agreed on the necessity of redrawing an industrial map in Egypt that defines the advantages that the country enjoys, including a rapid access to African markets, and a study to replace imported goods.
Abou El-Enein stressed the necessity of establishing industrial cities specialized in specific industries, including all feeding industries with new incentives and advanced infrastructure to help boostinvestment rates.
He pointed out that production specialization is the only way to attract investment from major international companies, noting Morocco's experience in establishing an industrial city in the field of automobile manufacturing, which helped it export nearly 700,000 vehicles.
The head of the General Investors Division stressed the necessity of redrawing the industrial map in Egypt, so that the advantages and human resources present in each governorate are studied to determine suitable industries for each part, and governorate.
He noted the need to take into account regional competitiveness with countries, as many of them are offering incentives to attract international companies, stressing the need to focus on future industries and ones that add value and increases export rates.
He stressed the importance of focusing on real estate exports, providing incentives, and removing all bureaucratic obstacles that hinder Egypt’s expansion in real estate sector, especially in the North Coast and the New Administrative Capital.
He explained that exporting real estate could become a source of foreign currency more than the traditional export of goods. This represents a renaissance for the contracting sector as well as the related construction industries.
In the same context, he called on industrialists and exporters to expand into the African market, which has become a global covetous factor for many countries, due to its high rates of profitability, in addition to the fact that it is rich in natural resources,
"We need to benefit from the free trade agreements that Egypt signed with African countries," he concluded.
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