Stamping out corruption is new direction for Egypt's Ministry of Trade and Industry

Ahram Online , Monday 14 Mar 2011

Recently-appointed minister Samir El-Sayyad describes his determination to tackle corruption

Eradicating corruption is the main goal of the Ministry of Trade and Industry in the next phase, said Minister Samir El-Sayyad today.

“The main direction for the Ministry is to eradicate corruption, and no laxity will be tolerated in any cases uncovered,” the current minister said in his first meeting with journalists since assuming the post two weeks ago.

“The revolutionary spirit dominates the Ministry's strategy throughout the next phase,” he said. “Serving the interests of a few oligarchs is no longer an option, and policies shall never again be controlled by personal interests.”

El-Sayyad added the Ministry will continue working in accordance with free market rules, hand-in-hand with respecting the role of the state in the economy, which is the only guarantee of transparency and social welfare.

According to the minister, the Exports Support Fund will be re-structured to ensure exports subsidies reach those eligible, through developing a fair criterion that guarantee subsidies are distributed equally among producers.

“The era of monopolizing these bodies for the interests of a few businessmen has ended,” he said.

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