business

Dressing room: simplifying investment and licensing procedures confirms the state’s keenness to solve industry problems


The Chamber of Ready Made Garments and Furniture Industry of the Federation of Egyptian Industries confirmed that President Abdel Fattah El-Sisi’s decision to grant the golden license to all projects applying for licenses during the next three months, lifts bureaucratic restrictions on the industry and contributes to attracting more investments and operating new factories during the coming period The honor and attendance of the political leadership for the celebration of the 100th anniversary of the Federation of Egyptian Industries carries a message of reassurance to investors and confirms the interest and continuous support that His Excellency gives to the industry file, especially in light of the turbulent global economic conditions.

Dr. Mohamed Abdel Salam, President of the Chamber, said that the ready-made garment industry has many opportunities for growth, expansion and attracting foreign investments in light of the change in the investment map and the global industry trend to rely on new suppliers in different regions other than East Asia, noting that investment procedures are simplified and access is facilitated. Approvals and licenses will have a direct impact on increasing Egypt’s share of immigrant investments, provided that the government apparatus quickly activates the president’s directives.

Abdel Salam indicated that the president listened to many of the problems and challenges presented by industrialists, and directed the government to overwhelm them, praising President Sisi’s directives to the Central Bank and the banking system to stand by the industry and provide the required financing.

The head of the chamber stressed the importance of the easy bank finances in giving factories a strong impetus in light of the economic crises and high production costs.

The Chamber’s President praised the launch of the “Start” initiative because of its important role in supporting export-oriented industries and industries to deepen the local product, adding that the Chamber will study mechanisms of cooperation with the initiative and how members can benefit from its services.

On the other hand, Dr. Mohamed Abdel Salam stressed the role of the exhibition and the first forum for the industry in reviewing the huge development in the Egyptian industry, noting that the chamber participates in a large pavilion in the exhibition as it is one of the most important export industrial sectors that also meets the needs of the local market, adding that the pavilion displays The most important services provided by the Chamber and the mechanisms and programs for developing the sector in cooperation with international partners.

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