The Egyptian Textile Export Council has suggested that the Industrial Development Authority (IDA) has to approve decreasing the building on the land necessary for industrial activity, in order to prove its seriousness. This decrease is based on the banks letters of guarantee that IDA received from the investors over the procedures of allocating industrial lands.
Eng. Hassan Eshra, Head of the Egyptian Textile Export Council, clarified that the authority has sent letters to several investors in the sector, whether Egyptians or foreigners, to inform them of withdrawing the allocated industrial lands, because they didn’t complete their ventures.
On the other hand, Eshra has called on the state to send trade missions to open main markets for Egypt in order to restore trust in the climate of business and investment as well as export. These missions should be organized as soon as possible, in association with the export councils. The state also, Eshra said, has to support the participation in the specialized international conferences to reassure the foreign partners on the climate of investment in Egypt.
