Events

December in Brief

Reported from the Egyptian news papers :

• President of the Republic declared in 4th Cairo Investment Meeting that high priority in the next stage would be accorded to the purification of the legislative structure to insure the citizens' having their right to reap the fruits of development. Besides, the private sector would participate in the infrastructure and public utilities projects to expand the education, services and research projects.
• President of the Republic and French President Nicolas Sarkozy who came to Egypt with heads of 20 French companies, discussed boosting cooperation in investment.
• IDA Chairman, presented IDA strategy in the next stage which aims at going beyond the simple assembly operations and living up to medium-technology industries and increasing the economic value. Furthermore, IDA Chairman confirmed that the targeted industrial sectors are: engineering, food, chemical, medical, textiles, building materials, furniture, leather, paper and cardboard. Moreover, Eng. Amr Talaat, IDA Vice chairman chosen to be the Chairman of the Internal Trade Agency after vice chairman Mr. Ibraheem Dif.
• IDA Chairman affirmed his intention to present the Auto Industry Development strategy in January. This strategy aims at producing about 800000 cars till 2020, 200000 of them are for exportation.
• Ethiopian Minister of Trade and Industry, Girma Berio hopes that Egypt come before China and India to establish an industrial zone in Ethiopia. Furthermore, the minister used numbers the volume of trade exchange between Egypt and Ethiopia and the benefits of establishing an industrial zone in Ethiopia.
• Al-amal company lunches its BYD F3 vehicle in cooperation between Egypt, China and Japan.