Prince Nasri
Saturday, May 13, 2023 04:00 AM
Dr. Mahmoud Anbar, professor of economics, said that the national initiative to localize the Egyptian industry, “Ibda'”, aimed at achieving 3 main goals, the first of which is providing job opportunities for young people through investments that can lead to them, localizing the industry, and reducing the import bill.
-Mahmoud Anbar added, during a telephone interview with Extra News, that the three goals, if achieved, are able to place the Egyptian state on the map of economic development and achieve leaps in all macroeconomic indicators, both with regard to the process of localizing the industry for self-sufficiency in goods and services, and targeting the Egyptian product. And develop it to compete in global markets.
-Mahmoud Anbar explained that this will affect the currency exchange rate and the value of the currency against foreign currencies on the one hand, and on the other hand it reduces the import bill and achieves a surplus in the trade balance of the Egyptian state, pointing out that the project support axis focuses on existing projects and creating more new investment opportunities. , stressing that 789 existing factories and 497 new investors have been supported in terms of investment opportunities.
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