Staff report: CAIRO, July 8, 2018 - President Abdel Fattah El Sisi has directed the government to intensify the measures aimed at supporting and reinvigorating domestic trade especially with regard to household supply goods and to encourage micro, small, and medium-sized enterprises through soft-terms. The presidential directives to this effect came in the course of a meeting that President Sisi called Sunday with Prime Minister and Minister of Housing Dr Moustafa Madbouli and Minister of Supply Dr Ali el-Moselhi, Presidency Spokesman Ambassador Bassam Radi said. With regard to the activation of domestic trade, President Sisi also directed the government to explore the prospects of initiating programmes for partnership between the private sector and the holding companies operating in the field of food trade with a view to launching retail outlet chains in co-operation with big, specialised global firms, Spokesman Radi said. This comes with taking into consideration Egypt's huge market in addition to existing government outlets that can be upgraded and equipped in such a manner that ensures optimised utilisation of such outlets, the presidency spokesman said. The president also urged an expansion in the chain of moving outlets operated by food and consumer commodity companies, Ambassador Radi said. President Sisi also directed the government to support micro and small-sized enterprises through the provision of soft terms, adding that such support should particularly be lent to income-earning women and those living in the most-needing villages in coordination with the Ministry of Social Solidarity. The president also called for supporting the project of setting up fixed outlets for newly-graduated young people, thereby creating more job opportunities for them. Commenting on a presentation by Supply Minister Moselhi, President Sisi urged the intensification of measures to check market prices of goods, protect the consumers and eliminate the phenomenon of commercial monopoly and fraud. Supply Minister Moselhi also dealt in his presentation with efforts to ensure the availability of strategic stocks of rice. In this regard, President Sisi agreed to allow the import of rice and directed that the marketing of rice in the new year be carried out by the General Authority for Supply Commodities (GASC) and that good prices for the rice crop be set in coordination with the Ministry of Agriculture. Minister Moselhi also reviewed ongoing steps to improve the performance of the subsidy scheme and its services through establishing a comprehensive data system for the management of ration cards and the setting of rules necessary for guaranteeing that subsidies reach only those who deserve them, Spokesman Radi said.
