Egyptian industry ministry seeks to increase exports by 10% annually

Trade and Industry Minister Tarek Qabil said on Sunday the ministry seeks to increase exports by 10 percent annually and industrial growth from 9 to 10%.

The ministry also seeks to provide three million jobs, the minister said at a press conference tackling the ministry's strategy within the coming period.

Since assuming the post, the minister said he has been working on studying all problems facing the industrial sector, especially bureaucracy and shortage of energy.

Any investor, either a local or a foreign one, has to wait for 634 days to get a license for his project and this is too long, he said.

He added that a working group has been formed to overcome this hurdle and be able to attract more investments to the Egyptian market.