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Monday, 14 May 2018

Is cabinet getting serious about import substitution?

Early sign that Cabinet is getting serious about import substitution? The government has ordered a study of the total import of goods and services over the last three years, Prime Minister Sherif Ismail told representatives of a number of business and investor associations. The study will help the government set policy priorities for which goods can be manufactured by the private sector here, a move he says will help reduce unemployment and the current account deficit while relieving strain on FX reserves, Ismail said, according to a statement.

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