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02.04.24 08:31
Economics

Egypt to allocate $2,5 billion in preferential financing for agricultural and industrial production activities

This is aimed at boosting agricultural and industrial productions


Egyptian Prime Minister Mostafa Madbouly approved the continuation of a financial initiative aimed at supporting productive sectors. The project aims to boost Egypt's economic development by increasing private sector participation in the economy and development. This is reported by Daily News Egypt, a partner of TV BRICS.

The focus will be on localising production, increasing exports and the competitiveness of Egyptian goods in global markets.

Public resources will be used to facilitate investment procedures, providing investment, tax and customs incentives for priority sectors.

The government is also sharing financial responsibility with investors to reduce production costs and increase exports.

This initiative aims to support agriculture and industrial production to meet domestic needs of the population and increase exports.

Photo: iStock

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