Cabinet approves Egypt-Italy agreement to support leather, furniture, marble industries
Updated 9/19/2024 2:47:00 PM
Arab Finance: The Egyptian cabinet has approved a draft presidential decree on the technical support agreement for industrial zones in leather, furniture, and marble between Egypt and Italy, as per a statement.
The agreement aims to boost Egypt’s industrial system by enhancing production capacities in these sectors and supporting the country's industrial and economic development.
It focuses on technology, innovation, knowledge transfer, sustainability, and environmental compatibility, aligning with the country’s development policies.
The agreement is expected to improve the economic and social conditions in the Robbiki Leather City, Damietta Furniture City, and the Marble Industrial Zone in Shaq El-Tha'ban, all of which have been economically affected by COVID-19 measures.
It also aims to create jobs, equip technology centers in the targeted sectors with advanced machinery, improve production quality, reduce costs, and expand services offered by these centers to support companies and promote their products.
Vocational training for local workers will also be enhanced to develop their skills and management capabilities.
It also seeks to enhance the local component of industrial products, support technologically advanced industries, and promote environmental protection through the use of renewable energy, recycling, and energy conservation.
The cabinet also approved the draft presidential decree of the 2021 financial cooperation agreement between Egypt and Germany, aimed at supporting micro, small, and medium enterprises (MSMEs) by providing financial and non-financial services tailored to their needs.
This agreement also supports the comprehensive technical education initiative in Egypt, including the establishment of 25 centers of excellence and applied technology schools.
Another approved agreement focuses on promoting the rights of persons with disabilities in Egypt, signed with the Italian government.
The program aims to fully implement the UN Convention on the Rights of Persons with Disabilities and Egypt’s new law on the matter, strengthening the role of the National Council for Persons with Disabilities and enhancing their integration into society.
In addition, the cabinet has renewed the prime ministerial resolution identifying seven strategic goods, namely rice, sugar, blended oil, beans, white cheese, dairy, and pasta to control market movement, stabilize commodity prices, and ensure the availability of essential goods.
The cabinet also recognized the electrical interconnection project between Egypt and Saudi Arabia as an integrated development project in the Sinai Peninsula.
This initiative is part of strengthening economic ties with Saudi Arabia and will contribute to meeting electricity demand.
Related News
