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 Attending the Arab-Japanese Economic Partnership Conference, held on Wednesday corresponding to Nov. 21 at the conference center of the Bibliotheca Alexandrina, Chairman of the Industrial Development Authority (IDA), Eng. Amr Assal delivered a speech on IDA and its role. He also highlighted some economic & statistical facts about Egyptian exports, and the program of offering industrial zones
to developers (PPP).
Assal stated that the current industrial policy is aimed at boosting Egypt’s industrial capability and increasing its industrial exports through determining the promising competitive industrial activities, developing export activities, along with industrial investment and production incentives, in addition to upgrading and supporting small industries.
The Ministry of Trade and Industry's 2005-2011 objectives include raising the industrial growth rate from 5% to 10%, creating 1.5 million new job opportunities, increasing industrial investments to LE175 billion, besides lifting the value of industrial exports from LE18 to LE42 billion, IDA chief added.
Egypt is considered the gateway of automotive exports to Eastern Europe and Turkey, since labor cost represents 10-15% of the total cost of automotive assembly and also 20-40% of the total cost of manufacturing automotive components, Assal pointed out.
On the other hand, one of the main goals of the conference is to activate the Arab-Japanese interaction on the basis of the close and strong official relations joining Arab and Japanese peoples.
It's worth mentioning that Japan endeavors to deepen its relations with the Arab countries, especially Egypt, in order to establish relations not
only restricted to power and economic scopes but also extend to other horizons covering the fields of knowledge, culture, education, technology and developing human resources.
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