Prior to his appointment as the acting governor of the CBE, Abdalla stated that he was part of an initiative entitled "Begin," which was focused on the consolidation of industry
Hassan Abdalla, acting governor of the Central Bank of Egypt (CBE), commended the state and private sector’s role in promoting the industrial sector in Egypt. At the same time, he stressed that there is a need to accelerate efforts to advance Egypt’s industrial sector.
During the first session of the Egyptian Economic Conference’s final day, “a roadmap for developing the industrial sector: challenges and mechanisms to stimulate the sector,” Abdalla stated that the trade sector is much easier to deal with compared to the industrial sector, which needs to great efforts to promote and develop it.
Prior to his appointment as the acting governor of the CBE, Abdalla stated that he was part of an initiative entitled "Begin," which was focused on the consolidation of industry and the replacement of imports and employment in the country.
Gamal Negm, Deputy Governor of the CBE, emphasized the necessity of developing industrial capabilities in order to achieve sustainable development in the country, stressing the keen interest of the central bank and the banking sector in the industrial sector in Egypt.
He added that there has been growth in lending rates to the industrial sector in the country during the past three years, which confirms the state's interest in this sector, confirming the industrial sector's acquisition of the bulk of the sectors benefiting from the lending and discount balances provided by the banking system.
The session addresses a number of axes, namely the challenges facing the industrial sector in Egypt, and the financing gap as one of the challenges facing the industrial sector. It also discusses another topic on practical mechanisms and ways to address the crisis of the financing gap and solve the problems of importers, and mechanisms to stimulate the industrial sector.
