Commenting on the inauguration of the 1st International Manufacturing Convention & Exhibition (IMCE) President Abdel Fattah e-Sisi lately attended.
Commenting on the inauguration of the 1st International Manufacturing Convention & Exhibition (IMCE) President Abdel Fattah e-Sisi lately attended, Former GM of Egypt Industry Federation engineer Mostafa Waly said that "IBDAA" (Start) initiative marks a new beginning for many entrepreneurs and startups who seek the opportunity to participate in the industrial field in Egypt with incentives coming directly from the political leadership.
Over the phone to (Breakfast Show), he shed light on the initiative itself as an integrated part of the whole package showing the interest and keenness of the state with full support of the president. New horizons of cooperation between the public and the private sectors are opened in that gathering, he added, referring that lots of decisions were taken and many messages had been delivered.
He elaborated that the event marked the Centenary of the Egyptian Federation of Industry which plays a pivotal role in localizing and strengthening industries to depend on local efforts, which is one of the priorities of the country. It is not a luxury but it is rather a must, he reassured.
Waly further highlighted the integration among countries in terms of energy and supply chain. The Egyptian economy is resilient enough to face the current crises despite the negative repercussions of the Russian–Ukrainian conflict, he stated. Moreover the president has called for the Minister of Trade and Industry and directed the governor of the Central Bank to facilitate the procedures of loans for those who want to start their own businesses, he reaffirmed.
He assured that energy, electricity and fuel will be afforded with reasonable prices and even lower than the real costs, considering it a turning point and great start. One of the great facilities offered by the state is the Golden License which will grant investors approval to buy and rent lands and operate and manage projects, without the need to gain approval from multiple government bodies, he noted, indicating it can be extended for an additional three months.
He called for raising the awareness that industry is the golden gate to progress as it pulls with it every activity in life. Creativity, brainstorming and innovative ideas are the pillars of a prosperous society. We can implement them through the help of the federation, corporate social responsibility, the cooperation with the private sector, the aid of big industries, boosting vocational training and with enabling the youth and women, Waly concluded.
(Breakfast Show) is aired daily. This episode is presented by Nermeen Abdel Rahman.
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