Investment Minister: Presidential Directives to Increase the Number of Exporting Companies
Cairo - Nihad Imad: Dr. Mohamed Fared, Minister of Investment and Foreign Trade, confirmed that the “Egypt Launches Exports” initiative aims to expand the base of Egyptian exporting companies and increase the number of companies that export on a continuous and sustainable basis, in addition to assisting existing companies in entering new markets and improving their product efficiency, in accordance with the directives of President Abdel Fattah El-Sisi.
Fared explained, during the initiative’s events at Port Said University, that the ministry has decided to bring its services to the governorates rather than waiting for companies to approach government entities. This move aims to consolidate various entities, services, and opportunities available to exporters in one place and to inform companies on how to benefit from them.
He noted that a large number of companies lack sufficient information about available services, whether related to increasing exports, participating in international exhibitions, commercial representation services, export development programs, or training. He emphasized that knowledge of information, markets, and export requirements is a fundamental element for the success and sustainability of the export process.
He added that the initiative also aims to increase the number of companies benefiting from government, financial, and investment services, clarifying that participating entities offer integrated solutions covering financing, investment, training, industrial modernization, insurance, shipping, and export services.
Fared pointed out that Port Said Governorate possesses important assets, including an industrial base, commercial activity, a port, and logistical services, which qualify it to be a key station in export development efforts, as it accounts for 3% of total exports. He stressed the importance of fostering positive competition among governorates to increase the number of exporting companies and the value of their exports.
The Investment Minister indicated that the goal is not limited to a company joining the list of exporters once, but rather building sustainable export capacity by ensuring companies possess knowledge of rules of origin, product specifications, target market requirements, and mechanisms for shipping, insurance, and financing.
He clarified that the initiative relies on the combined efforts of the government, universities, the private sector, the financial sector, industrial unions, and export councils. He noted the signing of cooperation protocols between Port Said University, the Foreign Trade Training Center, and the General Authority for Investment and Free Zones, aimed at developing the skills of companies and workers in the export field.
The initiative also included specialized sectoral sessions aimed at identifying companies’ needs and challenges, linking each challenge to the relevant authority, and following up on its resolution after the events concluded, thereby transforming the initiative into a continuous and sustainable relationship with the business community.
The main session of the initiative’s events included the signing of two cooperation protocols with the Foreign Trade Training Center and the General Authority for Investment and Free Zones, alongside presentations on investment, export and import supervision, building export capacity, export rules, the export development plan, the role of commercial representation, and exhibitions.
The second main session featured a presentation on the Foreign Trade Information Portal, the Industrial Modernization Center’s plans, support from the Small and Medium Enterprises Development Agency for exporters, services provided by the Industries Union, financing, factoring, and services from the Egyptian Bank for Development and Exports.
The initiative concluded with simultaneous sectoral sessions for engineering, food, chemical, construction materials, and metal industries, as well as ready-made garments and spinning and weaving sectors.
