Alexandria Business Association (ABA), chaired by Mohamed Hanno, hosted its Annual Iftar in Cairo, During the event H.E Eng. Khaled Hashem revealed that the government is studying the launch of investment funds aimed at channeling Egyptians’ savings into the industrial sector.
He explained that the Ministry is currently working with a global consulting firm to identify six strategic industries in which Egypt could rank among the world’s top three countries within the next five to seven years.
🏭 Accelerating Industrial Investment
The Minister also indicated that the government is considering allowing the leasing of industrial land without the current requirement of three years of operational activity, to accelerate the pace of investment.
Additional incentives are also under review for Upper Egypt governorates, including:
• Facilitated land pricing
• Faster licensing procedures
Furthermore, regulations will be amended to allow leasing factories after only one year from obtaining an operating license, while financial leasing arrangements will remain exempt from these restrictions.
📈 Targeting $99 Billion in Non-Oil Exports by 2030
Minister Hashem added that the state aims to increase non-petroleum commodity exports to approximately $99 billion by 2030, as part of a comprehensive strategy to enhance the competitiveness of Egypt’s national industry and expand the role of exports in supporting economic growth.
ABA Annual Iftar was honored by the presence of:
• H.E Ahmed Kouchouk, Minister of Finance
• H.E Eng. Khaled Hashem, Minister of Industry
• Former ministers, ambassadors, representatives of the United Nations, alongside the Regional Director of the World Bank , heads of government authorities, prominent public figures, and members of the Association’s Board of Directors.
• Rasha Abdel Aal, Head of the Egyptian Tax Authority – مصلحة الضرائب المصرية
Ahmed Amawi, Head of the Egyptian Customs Authority
• Major General Eng. Essam El-Naggar, Chairman of the General Organization for Export and Import Control
• Dr. Tarek El-Houby, Chairman of the National Food Safety Authority
• ABA Board members & prominent members.
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