Egypt … Sisi directives on factories that have been stalled since 2011

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Egyptian President Abdel Fattah El-Sisi met with the Prime Minister and ministers of the economic group in the government to discuss a range of issues, most notably the restart of closed factories since 2011.

Ambassador Bassam Radi, Spokesman for the Presidency of the Republic, said on Facebook that the meeting dealt with the presentation of the situation of thousands of troubled factories and companies due to the severe damages caused to their activities due to the lawlessness during 2011, and the accompanying acts of theft and attacks on factories and stopping production wheel”.

He added: “This matter has wasted the reputation of these companies and factories both in the local market, and has caused the loss of foreign markets and export opportunities, which led to the demobilization of huge numbers of workers.”

A newspaper said Egyptian “Seventh Day”, Sisi issued directives to take immediate measures, which support those economic entities and enable them to restore the exercise of their activities, including an agreement with banks to restart the parked factories at full capacity and provide the necessary financing for production requirements through various central bank initiatives of interest Low on lending, in addition to lifting government measures, which were against those companies and reduce the banking burden on them.



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