Small business an integral part of economic development

The government’s support for small and medium business was stressed yesterday in a meeting between chairman of the Egyptian investment Authority Mohammed EL Ghamrayri and investors in the Suez free zone.

Ghamrawi said that equal support was offered to agricultural, tourist and industrial projects . He added that marketing efforts focus on small business.

Meanwhile, the policy adopted by the Investment Authority for the coming period gave priority to projects that provide local produce with raw materials and production supplies.

This is intended to boost the export potential of Egyptian products which usually depend on imported material and consequently lead to higher costs.

Ghamrawi, revealed that they were studying a restructuring, of the Authority in a serious bid to eliminate the administrative bureaucratic obstacle to secure the flow of services,to investors.

In addition, other studies are being conducted to add more activities to the investment guarantee and incentives to, widen the scale of the field Benefiting from the law.

He also asked the Suez investors to prepare a note on the problems facing their investments so as to submit it to the concerned ministerial committee.