Egypt productivity down 45 per cent: industry chairman
Saturday meeting calls for speedy reforms and more encouragement for the private sector which contributes 65 per cent of the country's GDP
Ahram Online, Saturday 4 Jun 2011
Egypt's rate of industrial production has fallen 45 per cent since the beginning of the revolution, says the chairman of the Egyptian Federation of Industries, Galal El-Zorba.
Speaking at a conference organised by the General Union of Chambers of Commerce and Egypt's ruling military council, El-Zorba stressed the need to make quick decisions to increase exports and domestic production.
Also in attendance was Ahmed Wakeel, president of the Federation of Chambers of Commerce, who stressed the importance of Egypt's private sector, saying it contributed 65 per cent to the country's GDP.
Employees in the private sector represent 40 per cent of the Egyptian people, added Wakeel, making them a key factor in regaining economic security and creating an attractive climate for investors.