Mohamed Abdel Karim, Chairman of the General Authority for Industrial Development, announced that the authority has established a committee to monitor and identify new products in the market, whether in the food, pharmaceutical, or any other sector.

This initiative aims to facilitate the business climate for investors.

Speaking at the second annual conference organized by the Food Industries Chamber under the theme "Sustainability and Increasing Investment in Food Manufacturing," Abdel Karim stated that the committee conducts technical studies on the products and their requirements, ensuring their compliance with international codes before registering them.

He emphasized the necessity of coordination among various entities to facilitate the business environment for investors, noting that around 18 entities in Egypt are involved in various industries.

Abdel Karim highlighted that six of these entities are responsible for the majority of industries. The authority will coordinate with them in the near future to define the roles of each entity and streamline the execution processes.

He also pointed out that decisions that used to take three to six months are now being made within weeks.

Abdel Karim emphasized the need to review many laws and decisions that have been issued over the years, granting multiple entities the right to intervene, which may have a negative impact on the investment climate.

He further mentioned that since the establishment of the authority, approximately 734 decisions have been issued over an inconsistent period, prompting them to work on standardizing and regulating these decisions to align with the facilitation of the investment climate.

The establishment of the committee by the General Authority for Industrial Development reflects Egypt's commitment to fostering an investor-friendly business environment.

By monitoring and registering new products, the authority aims to streamline processes and ensure compliance with international standards. These efforts contribute to attracting more investment, enhancing competitiveness, and driving sustainable growth in the industrial sector.