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Federation of Industries Chair Warns Against Ignoring Local Product Law
Mohamed El Sewedy, President of the Egyptian Federation of Industries, emphasized the necessity of implementing the local product preference law to avoid harm to the national industry, affirming that non-compliance weakens the economy and increases reliance on imports. He pointed out that some countries support their industries by up to 25% to enhance their competitiveness, urging Egypt to learn from these experiences to strengthen local production. This statement was made during the Egypt 2026 Forum, where he stressed the importance of protecting the national industry to serve the interests of manufacturers and to create sustainable job opportunities.
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