(MENAFN - Daily News Egypt) Minister of Industry and Trade Tarek Kabil said that Egyptian agricultural exports increased by 17% during 2016, adding that Egypt is currently the biggest citrus exporter in the world. He believes that the automotive industry strategy, which is currently being studied in parliament, will make Egypt a leader in car manufacturing in the Middle East and Africa. 'The strategy focuses on increasing the ratio of local components from 45% to 60%, and also provides incentives for exporters,' the minister said in the statement. He emphasised that the ministry wants to attract investments in this field, adding that establishing industrial cities for textile is being considered. Regarding the Suez Canal region, the minister said that some areas are ready for investments, adding that the government is working on developing more areas through establishing infrastructure.
Source: Daily News Egypt January 11, 2017 14:26 UTC