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Egypt seeks US$145 billion in exports in 2030

Cabinet spokesperson Mohamed al-Hommsani on Saturday explained the details behind Prime Minister Mostafa Madbouly’s visit to the Port Said and Damietta governorates, to inspect some factories and the port of Damietta.

The Prime Minister stated that the government works through thoughtful plans to increase exports to US$ 145 billion by 2030, Hommsani added.

In a telephone interview with TV host Ahmed Moussa on the “By My Responsibility” show, the cabinet spokesperson said that supporting the industry aims to provide production for the local market and increase exports abroad, and thus rationalizes the import bill and supports exports.

Egyptian exports currently amount to $53 billion, he noted, and if they were targeted to increase by about 17 percent annually the state’s desired rate would be reached.

There are many incentives provided by the state to support the export program and to develop well-studied plans on the ground to achieve the goal of $145 billion in exports, he noted.

According to Hommsani, the Prime Minister held a meeting with the Export Councils Authority and measures will be taken to support exporters, such as removing the difficulties and challenges facing investors in exporting their products.

The Prime Minister’s visit to Damietta Port aims to further support exports, he stated, as Madbouly witnessed the export of Egyptian products to a number of countries.

Hommsani pointed out that it is not possible to talk about increasing exports without a strong infrastructure, assuring that measures are underway to develop Damietta Port.

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