High price of wood may stop Damietta’s furniture industry

The price of raw materials used in the furniture industry increased, particularly the price of different kinds of imported wood, according to the chairman of New Damietta investors’ assembly, Osama Hafela. Hafela told Youm7 the owners of furniture factories are complaining of high price of wood, especially during the past six months. He said unconventional solutions should be put in coordination with the government to get over this problem. He pointed out banks play an important role in supporting factories owners, where they provide necessary banking facilities with appropriate benefits to finance the purchase of raw materials and production supplies.