Mohamed Maait, Minister of Finance confirmed that Egypt continues, through the General Authority for Government Services, to enhance dependence on locally manufactured products in government contracts, which contributes to encouraging the private sector to pump more investments, provide job opportunities, and support the national industry.
The finance minister his keenness to adopt any new procedures that help ensure the priority of Egyptian products in government contracts, in a way that is reflected in the issuance of a number of periodic books and general instructions to the bodies concerned with the law regulating contracts, in order to achieve integration with other relevant laws, including: the law “Preference for Egyptian products in Government contracts.
He said that representatives of the Ministry of Finance from the General Authority for Government Services, the accounts sector and financial directorates are specialized in verifying the commitment of administrative authorities when managing their needs by applying the provisions of the law to prefer locally manufactured products in government contracts.
He explained that the percentage of the Egyptian industrial component – according to the law – is not less than 40% in business contracting contracts, and that the Egyptian product is preferred even if its price exceeds its foreign counterpart within 15%; to stimulate the industry, maximize our production capabilities, and enhance the competitiveness of our products.
On his part, Mohamed Adel, head of the General Authority for Government Services called on the administrative authorities to quickly finalize the preparation of the needs plan that will be met in light of the appropriations that have been allocated and approved for each authority during the current fiscal year, and to complete the previous needs plan models prepared by the General Authority for Government Services., and the Ministry of Finance’s digital circular issued on it, and the plan approved by the competent authority in each authority was published on the website of the public contracting portal.
The head of the General Authority for Government Services also called on the administrative authorities to start counting the required needs for the next fiscal year, following the same established procedures and submitting the approved needs plan as one of the main requirements with the administrative authority’s draft budget for discussion with the Ministry of Finance and a commitment to implement the provisions of the law regulating public contracts The Egyptian Products Preference Law in Government Contracts.