Egypt-EU partnership problems to be sowed

Egyptian Minster of Industry Mustafa A1 Refa'i said yesterday in a press conference that the government is containing all problems impeding the execution of the Egypt-EU partnership agreement conceding the industry modernization program.

He added that LE 56 billion would be needed to modernize those factories already in operation, while an equal amount would be required to establish new ones.

An additional LE 50 billion would be necessary to compensate those factories close down because they are unable to compete when the European Union (UN) Partnership agreement is fully implemented.