Prince Nasri
Saturday, May 13, 2023 08:00 AM
Dr. Farag Abdullah, an economist, said that the national initiatives aimed at localizing Egyptian industries aim to reduce the import gap, by providing some local products, which gives an opportunity for the national economy to deepen the provision of supply chains or provide an opportunity for the local product to be available in form. sustainable to provide more local products.
Faraj Abdullah added, during a telephone interview with Extra News, that this reduces the import gap and gives a greater opportunity to open new markets, which is reflected in the volume of output and gives an opportunity for balance, pointing out that we need a greater opportunity for partnerships, which happened with more than 64 foreign companies.
Faraj Abdullah stressed that small and medium enterprises are an important aspect for the localization of some industries, in which Egypt may have come a long way, such as the private sector in household and electrical appliances, pointing out that Egypt exports products to 80 countries around the world, with a local manufacturing rate of 70%.
