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Egypt plans to increase US dollar proceeds: Official

Egyptian cabinet spokesperson Mohamed al-Hommosany announced that the government has a plan to increase US dollar proceeds by raising investments in the field of industry, and providing incentives to attract foreign direct investments there.

During a telephone interview with the Extra News satellite channel on Monday, Hommosany said that the state has granted many incentives to foreign and Egyptian investors to develop and deepen industry in various fields and sectors.

Industry is a fundamental backbone of the economy, he explained, and the state has plans – such as the strategic directions document for the Egyptian economy discussed during the National Dialogue – to increase Egyptian exports during the next few years.

Hommosany confirmed that by implementing plans and providing incentives to investors, work is progressing to increase investments not only to provide domestic increases, but to further increase Egyptian exports to foreign markets.

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