Al -Arjawy stressed that the investment climate has become strongly attractive to establishing such projects, but there is an urgent necessity to amend some of the provisions of the executive regulations of the Customs Law in order to allow greater flexibility in procedures and encourage investors to engage in this type of vital activities. He stressed that the current regulations still need to review and develop in order to keep pace with the global market variables and support the state’s vision in making Egypt a regional center for trade and distribution.
He called for the establishment of a joint committee that includes
representatives of the commercial community and the ministries of investment
and finance, with the aim of studying the challenges facing the implementation
of these projects and proposing appropriate legislative and procedural
solutions, ensuring the speed of implementation and achieving the highest
possible benefit.
Al -Arjawy explained that the logistical distribution centers represent a basic pillar to open new markets and increase the competitiveness of the Egyptian product, especially in light of the economic changes that have occurred in a number of neighboring countries, which were competing with Egypt strongly in this field, which opens a golden opportunity for us to seize an advanced position on the map of regional trade, especially in the African continent markets.
He stressed the importance of dealing with the concerned parties seriously and quickly with this file, because of its direct repercussions on the national economy, enhancing export opportunities and reducing the deficit in the balance of payments.