A surprise from the »Start« initiative for factory owners
"Start" initiative continued that work has been done in two tracks, the first is defining the correct procedure and its advantages, and the second track is facilitating the procedures.
Shrouq
The "Start" initiative confirms the Egyptian state's keenness to support the industrial sector and owners of small and medium enterprises.
Commenting on the role of the initiative in legalizing the conditions of small and medium industries, Abdul Rahman Omar, a member of the national initiative “Start” said, “The stage in which the initiative began was to legalize and reconcile conditions, by going to the ground and knowing the challenges and problems facing factories".
He pointed out that the most frequent problems are the time taken for the procedures, and the lack of knowledge of what is the correct procedure that must be followed.
Start initiative
And the member of the " Start " initiative continued that work has been done in two tracks, the first is defining the correct procedure and its advantages, and the second track is facilitating the procedures.
He emphasized that the initiative is concerned with the industry file in Egypt and increasing the industry's participation in the economy, which is greater than the participation it currently contributes to.
He explained that the current participation of the industry is about 23%, as the initiative aims to reach 35% within 3 years, with an increase rate of 4% each year.
Initiative achievements
A member of the Start initiative team, the National Initiative for the Development of Egyptian Industry, confirmed that 64 industrial projects are currently being implemented with 33 private Egyptian companies and 20 foreign companies working on technology transfer from 12 countries.
The work axes of the National Initiative for the Development of Egyptian Industry " Start " are divided into 3 axes, which are the major projects axis, the axis of supporting industries, and the axis of research, development and training.
New investments for the industrial sector worth 200 billion pounds
The National Initiative for the Development of Egyptian Industry " Start " seeks to achieve 3 main objectives, which are providing job opportunities, localizing modern industries, and reducing the import gap.
This will be done through adding new investments to the industrial sector at a value of EGP 200 billion and providing about 150,000 direct and indirect job opportunities over the next four years.
And President Abdel Fattah El-Sisi announced, during the “First International Industry Forum and Exhibition” on October 29, 2022, the launch of the National Initiative for the Development of Egyptian Industry “Start” as an initiative that mainly works to support and localize national industries to rely on local products and reduce imports, by strengthening the role of The national private sector in the localization of many large, medium, small and micro industries in Egypt.
