Abdel Nour: No energy problems in the industrial sector due to Arab countries’ support

The minister of trade and industry Mounir Fakhry Abdel Nour said on Tuesday that the current export support program will be extended for a period of three months, with new standards focusing on the added value, opening of new markets, technology transfer and job creation to be applied in early October.

The minister made his comments during a meeting held by the Egyptian Federation of Investor Associations chaired by Mohamed Farid Khamis, to deal with a roadmap to support the Egyptian economy and meet the challenges facing development. State news agency MENA reported that addressing the meeting, at which a large number of industrialists and members of the business community were present, Abdel Nour said, “The current government has great ambitions to meet all the challenges facing the business community.”

He added that the ministry is committed to achieving social justice and to restoring the confidence of local and foreign investors in the Egyptian investment climate, stressing the importance of granting the opportunity for young people to contribute to development in the coming period.

The minister said he does not expect the industrial sector to face any problems in energy resources over the next year due to strong support from a number of Arab countries.

The ministry is keen on completing the development of policies for the energy system. A plan has been prepared in coordination with the Federation of Industries and is currently being studied.