government to spur private sector, stamp out unfair competition

The government will soon take measures to encourage private investors to launch industrial ventures, Minister of Industry and Foreign Trade, Rashid Mohammed Rashid announced yesterday.

The new measures will be coupled with steps to eliminate the practices by the private or public firms of unfair competition in the local market, Rashid told reporters.

The goal of the Ministry is to enable consumers to obtain good quality products at affordable prices, he added.

Rashid said that his ministry would make more efforts to improve the quality of local products in order to open new export markets.

The Minister added that he would be making inspection tours of factories in Upper Egypt to assess their problems and find realistic solutions for them.