Egypt Readies 30 New Trade Measures to Boost Industry
Finance Minister details upcoming reforms and continued industrial support amidst economic growth.
Egyptian Finance Minister Ahmed Kojok announced Egypt will launch 30 new measures. These initiatives aim to streamline foreign trade and simplify customs procedures. The Ministries of Finance and Investment are coordinating the effort. Details of these measures will become public in the coming days. The government seeks to enhance its economic standing.
On Thursday, the Minister spoke at the “Egypt Food” conference in Cairo. He confirmed the Ministry’s commitment to maintaining current allocations for industrial support. The Ministry is also considering increasing these allocations in the upcoming budget. The food industries sector, in particular, is under review for enhanced support.
Supporting Egypt’s Industrial Sector
Egypt’s economy saw improved performance by the end of the 2024-2025 fiscal year. The growth rate doubled to 5% in the last quarter. This compares to 2.4% during the same period a year earlier. This marks the highest growth in three years. Non-petroleum manufacturing, tourism, and telecommunications sectors drove this expansion. The government’s push for industrial support aligns with this economic upturn.
The industrial sector, however, faces significant hurdles. High financing costs present a major challenge. A shortage of US dollars and imported production inputs also impacts pricing. Industrial land prices have increased. Businesses contend with multiple authorities and lengthy customs licensing procedures. Elevated energy prices directly challenge factory operations and expansion plans. Export-related issues and burden refunds add further pressure. High transport and logistics costs ultimately limit industrial competitiveness.
In 2024, the government launched a package of initiatives. These programs aimed to support industrial companies. They facilitated the purchase of equipment and production lines. The initiatives offered a reduced interest rate, down to 13%. Total financing facilities under these programs reached 30 billion Egyptian pounds.
