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Egypt Supporting Small and Medium Enterprises

Global Arab Network - - Mohammed Almasri

Tuesday, 22 February 2011 22:07

Egypt’s Trade and Industry Minister Samiha Fawzi urged support for the Egyptian small and medium-sized enterprises which were negatively affected by the recent turmoil in the country.

Speaking at a press conference at the Egyptian Trade Union Federation (ETUF), Fawzi said her Ministry will cooperate with the Local Development Ministry to support the ventures.

Fawzi, who also oversees the investment portfolio, said the Ministry will promote the investment sector, which is, she said, key to strengthen Egypt's economy.

The Ministry would dispatch representatives in the coming few days to several countries to tout Egypt's investment potentials, she said.

Among those countries will be the UAE, Kuwait and France, she noted.

The ministerial group of following up economic performance held its second meeting on Sunday to discuss the national program to spur economic activities, employment and income as well as the development corridor project.

Minister of Finance Samir Radwan declared that Prime Minister Ahmed Shafiq gives great attention to development corridor project. He demanded the ministerial group to put needed mechanisms to start immediately the implementation of the project.

On his part Cabinet spokesman Magdi Radi announced that development corridor project will have an integrated program that has non-governmental structure and not influenced by bureaucracy.

Egypt’s Prime Minister Ahmed Shafiq had talks with the ministers of international cooperation, electricity, finance and housing as well as the head of the Cabinet's Information and Decision Support Center (IDSC), Cabinet Spokesman Magdi Radi said. The meeting falls within the framework of efforts to revive Egypt's economy,

The talks tackled means of creating jobs, rebuilding the infrastructure and establishing more projects to make up for the economic losses sustained during the 25th January revolution.

The talks also touched on means of securing housing units for low-income brackets, the spokesman said.

Global Arab Network

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