Egyptian-Malaysian Business Council suggests activating usufruct system

Chairman of the Egyptian-Malaysian Business Council Sherif el Gabali suggested activating the usufruct system for industrial investments in a bid to increase industrial growth rate by 8 percent annually.

Gabali's remarks were made on the fringe of the second day of Akhbar el Youm Economic Conference. 

Gabali also called for increasing the use of local components in the industry instead of exporting the raw materials.

He made it clear that 75 percent of the raw materials are exported despite the issuance of a law banning the exportation of such materials and urging their use in value added industries.

Gabali also highlighted the necessity of attaching special importance to some industries such as chemical, textile and plastic