Abou El-Enein Urges Trade Minister to Localize Labor-Intensive Industries

Deputy Speaker of Mohamed Abou El-Enein urged the Minister of Trade and Industry Nevine Gamea to localize labor-intensive industries and pay more consideration to trade in services, stressing that the world is facing global challenges in light of the emergence of a fourth and fifth industrial revolutions.

This came during his speech before the plenary session of the House of Representatives headed by Ahmed Saad El-Din and in the presence of the Minister of Industry.

Abou El-Enein also encouraged the minister to re-evaluate the state’s assets to be able to reach the goals of Egypt’s vision 2030, pointing out that the industry has a golden triangle, of which production, exports, and labor-intensive investments are its three acute angels.

“We need to study the opportunities in each governorate to achieve the highest value of investments and export opportunities. We have big opportunities in the European and African markets,” he said, pointing out that the EU imports $100 billion worth of products from China alone.

He also advised the Ministry of Trade and Industry to pay more attention to trade in services, which accounts for 65% of global trade, stressing that the film industry is a promising industry that may add enormous capital to the state, the textile and mining industries.

“The time has come to maximize the efficiency and productivity of these services by raising the productivity and skills of workers, and creating a new brand name for Egypt,” he stressed.

In the conclusion of his speech, Abou El-Enein emphasized that the Ministry of Industry has huge plans within the framework of President Sisi’s future vision for Egypt, which places the country among the 30 largest economies in the world.

“Industrialists witness the Ministry of Industry’s achievements, its interest in small markets and keenness to present a law that pays attention to details,” the deputy speaker concluded.