The current government is determined in facing the challenges of the business community, Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour said in a meeting at the Egyptian Union of Investors Association (EUIA). The meeting, which was under the chairmanship of Mohamed Khamis, the head of the EUIA, discussed the road map ahead of the ministry. In outlining the government's plans for industrial development, Abdel Nour mentioned "supplying lands for industrial projects and developing a new system for land allocation." Abdel Nour said despite the difficult circumstances the economy is experiencing, the ministry is committed to realising success in order to reach social justice, stability and restore the confidence of local and foreign investors. "The economic group within the cabinet is keen to overcome all the obstacles and to develop a new system for the investment climate," he said. He also stressed the importance of granting opportunities for youth, allowing them to contribute to the implementation of the new development plan during the next phase. During the meeting, which also reviewed a number of problems in energy resources, the minister pointed out that the industrial sector is not expected to face any energy supply problems over the next year due to the strong support from Arab countries. For his part, Khamis announced that the business community will assist the new government in creating job opportunities and improving labour wages through building factories and increasing the production quotas to encourage exports. "Investors are optimistic about the new government and believe it has a clear vision." Khamis said. He also demanded that the government takes all required measures to protect the domestic industry, especially with regard to smuggling. Safwan Thabet, a meeting attendee, requested that the new government finalise the draft food safety law. Thabet added that the law will contribute to the improvement of the Egyptian food industry, citing that it is suffering from a "multiplicity of legislation and regulations." Abdel Nour said the ministry is currently working on finalising an integrated industrial map. This map is intended to identify investment opportunities available in provinces and industrial areas He also added that the ministry is currently studying the introduction of a connected working network with the General Authority for Investment (GAFI) that will help overcome all the obstacles and facilitate industrial procedures. Furthermore, Abdel Nour indicated that he has formed a committee that aims to play an active role in resolving investors' complaints during the next phase. The minister announced the he has decided to extend the current standard measurements in the "Supporting exportation program" for three months, adding that new standards will be applied in October.
