'Egyptian Industrial Product Preference’ regulation will decrease foreign product imports

The Ministry of Industry and Foreign Trade announced it has finalised an executive regulation of Law 5/2015 to create a preference for Egyptian industrial products in government contracts.

The regulation was sent to the Egyptian Council of State for review to be approved in the next few weeks.

The regulation pertains to industrial products only, stating that the proportion of Egyptian components in industrial products should not be less than 40%. In addition, the regulation requires stakeholders to commit to the proportion within their procurement contracts.

A board member of the Federation of Egyptian Industries (FEI), Mohammed El-Bahi, said that all government sectors take advantage of the law. He said that, if Egyptian factories are able to provide an abundance of national products, the government will decrease the importation of products from abroad.