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Amr Fattouh: The “golden license” is a quick response from the president to the demands of businessmen


Amr Fattouh, Vice Chairman of the Industry Committee of the Egyptian Businessmen Association, Secretary of the Central Industry Committee of the El-Geel Party, said that President Abdel Fattah El-Sisi’s affirmation on the government to remove all the problems facing industrial investors, and the issuance of a golden license, is a quick response from President El-Sisi to the working paper and recommendations of the Industry and Scientific Research Committee. The Assembly, which was also submitted to the Generation Party and presented during the Economic Conference.

Fattouh added that the committee also called for a national project to localize industries feeding major industries through a real industrial investment map for each governorate that includes ready-made feasibility studies for a number of integrative and transformative industries to provide raw materials and production requirements locally and to present them to young people, owners of small and medium enterprises and entrepreneurs.

He pointed to the inauguration of President Abdel Fattah El-Sisi and his launch of the “Start” initiative, which comes at an important and sensitive time and a translation of the recommendations of the Society’s Industry Committee, as it aims to assemble and intertwine with manufacturers to localize the nutritious and strategic industries for Egypt in the next stage.

He explained that one of the committee’s main recommendations is to give priority to Egypt’s strategic industries and grant it a golden license, in addition to preparing a list of goods that are not manufactured locally, in addition to activating the role of commercial representation offices and activating the law on local product preference.

He added, and one of the most important recommendations for the advancement of industry is the state’s declaration of 2023 as the year of industry so that all ministries work to take the necessary measures to facilitate the exit of production requirements, raw materials and production lines from customs and ports, and to provide industrial units and land for investors and entrepreneurs, encourage the establishment of manufacturing industries, and develop a list of required industries Settling them locally based on the structure of imports and granting them all aspects of support and assistance to replace the imported ones, thus reducing the import bill.

He also pointed out the importance of reconsidering the support of industry from the perspective of national capitalism, which is based on the public interest of the state and to show quick economic and social results without looking at the state achieving a quick gain, which encourages both local and foreign investment.

He added, the government must also be stressed to implement President Abdel Fattah El-Sisi’s decision to give preference to locally manufactured products in the state’s national and development projects, and that the tender law should be based on quality, not price, while working to support the competitiveness of the Egyptian product by reducing costs by lifting tax and financial burdens on producers. Reconsidering the export support system and launching a huge global electronic portal for export.

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