21/10/2002
Al-Akhbar Newspaper 2002/OCTOBER /21
We must recognize that we have wasted much time in studying the modernization of the industry. It has taken 5 years of negotiation with the European Union before the signing of an agreement was finalized in June 2001. The agreement has given Egypt the opportunity to receive a donation of € 670 million (one euro equals’ five pounds.) Unfortunately, we left the first premium at the bank to go down the drain. We selected an official to perform the modernization mission. However, Six months after appointing him, the Ministry of Industry dismissed him without letting us know what mistakes he committed, and whether the reason was due to his slow performance or his disagreements with businessmen. Eventually, Selim Talatly was appointed as the new official.(Available in Arabic – German in PDF)
We must recognize that we have wasted much time in studying the modernization of the industry. It has taken 5 years of negotiation with the European Union before the signing of an agreement was finalized in June 2001. The agreement has given Egypt the opportunity to receive a donation of € 670 million (one euro equals’ five pounds.) Engineer Dr. Ameen Mubarak, Chairman of the People Assembly’s Industry and Energy Committee, has made extensive research in which a great number of experts and scientists participated. This meeting was conducted to assist in salvaging all that is possible and to find out more about the large numbers of wasted products of electricity tools, fire extinguishers, and spare care parts. The research revealed that Egypt exports only 6% of its production, while 94% of our production is directed to the local market. This is in a time where the world has changed with extraordinary speed within the framework of economic freedom, and in a time when Egypt has not invested its distinguished location and relations with many entities. In addition, there are two programs, the first one is the national project for modernization of industry and the second is the Egyptian European project, and the latter extends to a period of fourteen years. Such matters require merging both programs together.