Cairo - Mubasher: The Egyptian program to support local manufacturing aims at bridging the gap in the country’s trade balance between exports and imports, according to the minister’s assistant for small and micro industries, Hossam Farid.
The ministry launched the programme in the Federation of Egyptian Industries (FEI) on Tuesday, Farid added, noting that non-oil imports rose in the first eight months of the year by $6 billion to $43.5 billion.
Around 63% of these imports are for engineering, chemicals, and building products, which can be replaced with local industries, providing a decent competitor.
