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Sunday, 16 August 2020

Trade Ministry looks to give Federation of Industries more power

Trade Ministry looks to give Federation of Industries more power: The Trade Ministry plans to expand the role of the Federation of Egyptian Industries (FEI) and will appoint one of its representatives to the Industrial Development Authority’s (IDA) board, Trade and Industry Minister Nevine Gamea said in a meeting with the heads of the authorities, according to a cabinet statement on Friday. The federation will contribute to drafting laws governing SMEs, and collaborate with the IDA to issue industrial licenses, establish industrial zones, and develop local manufacturing. Gamea added that the federation had formed a joint committee with the IDA to develop a methodology to determine the proportion of domestic components in local manufacturing to bring added value to Egyptian products.

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