Page 96 - Benaa.Vol01

Interview
Moreover, Hameed national exhibi- ed to the need to establish direct
referred to the com- Mining rents and tions which marine routes to this part of the
plications raised by royalty should be have become continent thus facilitating the ex-
the new amendments one of the most porting process, in addition to en-
reduced, says
of the Mining Law. Hameed keting tools. He couraging the local banks open
important mar-
BENAA The Industrial the old law should have
new branches which will enhance
According to him,
only two articles of
been amended. The rent and
royalty rights were the two arti-
cles that needed amendments, he
said. The mine’s rent is to be
raised to a LE9 per meter which
Sector is costly because in most cases
EXPOT COUNCIL BUILDING, REFRACTORY & METALLURGY INDUSTRIES
mines and quarries are stretched
out to tens of kilometers. He be-
lieves that the rent should be at
should be best LE3 per meter to make it af-

fordable for investors to secure
steady process of production. The
other article is the royalty rate
Bailed- Out which is due to be raised by 14%
out of the value of the raw mate-
rial abstracted. However, the af-
fordable rate, according to Ha-
meed, is 10% only…"The

Eenhancing the building materials exports is Exports Council for Building Ma-
terials (EXBM) has thus present- referred to Italy’s Verona exhibi- the banking system’s role in the
one of the major tools that should be considered tion which is highly specialized process…. "A new initiative
ed its remarks on the executive
to help this country put en and to the ongoing in natural stones like granite and should be adopted by the banking
regulations of the draft law to the
shortage of cash and the fluctuation of dollar prime minister who referred our also the annual fair of ceramics system in Cairo to promote the in-
prices in the local market. The call was raised by demands to the higher authority held in Spain. dustrial funding process with low
Ahmed Abdel Hameed, Head of the building for mining to take it into consid- The exports council’s plan is interest rate that help the industri-
materials chamber in Egypt. According to Hameed, the building materials eration.” also focusing on the Lebanese- al sector fight the current infla-
Within this context, Hameed Egyptian initiative for Africa. tion," he said.
rely heavily on local raw materials which are abundantly available and thus Furthermore, the government
pointed to the need to develop lo- Most industrial exporters are cur-
the industry's exports could be promoted several times which in turn will should pay more attention to
cal industries as means to boost rently opening up new markets
secure enough cash flow and dollar revenues. Within the past seven the economy. Improving the in- especially in western African striking deals with the African ec-
months, the dollar exchange rate went up from LE7.8 to LE12.4, marking a dustries will promote the exports states due to the ongoing high onomic blocs which should be
carefully studied to benefit the
58% increase. Therefore, as Hameed said, settling the problems challenging which in turn will help settle the growth rate which enhanced the two sides on the long run. Ha-
this sector will in the first place boost the local economy to gain strong cash flow and the hard currency purchasing power in those coun- meed believes that pipes, granite
problems. Therefore, the chair- tries. Several deals have been fi-
growth rate and certainly resolve the dollar fluctuation problems. Hameed and marbles have topped the Afri-
man of the Chamber, said the ex- nalized through this initiative
believes that the policies adopted for a year by the Central Bank and later can markets' demands and thus
port council is working hard to marking its success which should will have good opportunities, if
revoked, were behind the dollar crisis. enhance its participation at inter- be promoted. Hameed also point- marketed in a good way.

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