Government Creates 145 Million Dollar Fund For Printing Industry

Chamber of printing and packaging industries will organize the first Arab world joint investment conference for printing and packaging industries.

The news was announced by Khaled Abdo, head of the Chamber during a press conference held in German chamber of Commerce in Cairo.

He also added that Egyptian government is planning to establish a fund worth one billion Egyptian Pound (more than 145 million dollars) in order to provide financial facility with an interest rate of 3 to 4% to those who want to invest in new printing equipment and machinery.

According to Abdo government’s initiative will enable Egyptian printing industry to modernize and invest in state of the art equipment. Recently Egyptian banks increased interest rates, a move that could hamper investment activities in Egyptian printing industry.  

According to Khaled Abdo, head of the Chamber, more than 140 billion Pounds worth of goods are exported annually from Egypt which includes 8 million pounds of printing and packaging related items.

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