Global Arab Network | Egypt adopts the largest budget to support industry

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Egypt adopts the largest budget to support industry

Tuesday, 27 July 2010 15:16

The Industrial Modernasition Council (IMC ) in Egypt adopted during its meeting on July 26th 2010 under the chairmanship of Minister of Trade and Industry Rasheed Mohamed Rasheed, the largest budget of (IMC) since its inception it is amounted to one billion and 100 million pounds during the fiscal year 2010/2011.

This came during a meeting on july 26th,2010 to review of IMC's new fiscal yearplan 2010/2011, as well as the most important achievements of the Centre during the 2009/2010 fiscal year elapsed.

Rasheed stressed the importance of linking the service of the industry centre with the national export modernization strategythat aimed at increasing Egyptian exports from 92 billion to 200 billion pounds by 2013 .

The Minister asked the IMC to focus on deepening the domestic industry and to improve the quality of industrial products and to encourage producers to take advantage of the raw materials in Egypt and increase the added value of these raw materials and the use of global technology to be competitive and suitable for use as components of production and raw materials and intermediate for the manufacture of final products, increasing the added value of industrial products. (SIS)

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