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Egypt plans to boost exports to USD 145 bln by ’30 – PM

Egypt plans to boost exports to USD 145 bln by ’30 – PM

Egypt’s Prime Minister Moustafa Madbouli stressed Saturday that exports by 2030 are targeted to hit USD 145 billion compared with USD 53 billion in 2023, saying that this can be “applied” Speaking in TV remarks following inspecting Pyramids tire factory, Madbouli said the political leadership and all executive institutions are fully aware of keeping sustainable growth and overcoming all challenges facing Egypt starting with focusing on some productive and economic activities.

The coming period will witness boosting cooperation with serious businessman and manufacturers, he said.

Madbouli affirmed that the government is keen on removing several obstacles, including facilitations of measures licensing and getting production requirements.

He pointed to the meeting held last week with officials of exports’ councils, and discussions on achieving at least a 15-percent growth in all exports’ sectors.

Sectors and industries on which the government is working to increase its products have been determined, he said.

This aims to enhance manufacturing, reduce experts and meet the needs of local markets, he affirmed.

“Today, we witness the experimental operation and production of tires of some kinds of vehicles that constitute the majority of vehicles on streets,” he said.

By October, production of these tires will cover more than 25 percent of local demand, and it will exceed up to 70 percent by 2026, he said, quoting the factory’s owner

Source: Kuwait News Agency