The "scree" stamp will be transmitted to Egyptian gold

The gold industry has been one of the oldest Egyptian-known industries from Pharaoh's time. However, the business is currently suffering from many problems that will prevent its disruption. business from attacking other countries by sending them up to date. benefit from the low price, and the local market is suffering from & # 39; bent as a result of the reduction in buying power. For users, published by Rafik Abbasi, head of gold at the Confederation of Egyptian Industries.

Head of Gold Division: The current gold market in Egypt is currently estimated at around 50 tonnes per year, equivalent to more than 32 billion pounds, saying that the gold factories will not cost gold every day, but they will Get raw gold for the things that are selling and getting the working teams, So there is no relationship with their business at a & # 39; Daily price in sales and sales movements.

Barriers are standing in front of her & # 39; business benefits from the boom

Egypt is one of the leading gold industry countries, according to Abashi, but the business has developed in many Arab countries that included jewelry from Egypt and is now on such as Saudi Arabia, Jordan and Syria, but we believe we are still stronger because our market is bigger as well as the development of the Egyptian industry, but obstacles to many obstacles have been & # 39; exports and benefits from a & # 39; Declining the money after making oil compared to other businesses.

The stamp is the most important obstacle to the gold industry in Egypt

The most important problems facing a gold industry in Egypt, Abbasi said: It is associated with stamp and screen interest, which is the Ministry of Procurement and not a trade and business, and so a & # 39; business continuity and Ministry of Procurement, as opposed to all industries in Egypt, Follow the Ministry of Business and all of its operations and gain the benefits through its reliance on business.

It's the way to go to # 39; Stamping the gold that works through stones is the most important factor in the export problem. Foreign countries are looking at this way to be in a position. stamped as "bad business." Many countries do not include the introduction of Egyptian gold maids due to stamping, according to the head of the department.

Abbasi explained that the gold kitchens were removed from the Egyptian areas until the 1990s, after they had been donated for stamping, valued, calibrated and a & # 39; extinguished without stamping. Business, saying that the Egyptian factories were stamped before being delivered to the merchant to sell them abroad.

The head of the department said that the Objection Authority wanted the stamp and the projection to estimate the value of the umbrellas at the time of the exports. This decision represents one of the obstacles to the export, as the factory will not have competitive prices with the factory; this ratio. The dependency of the Ministry of Industry has its functionality; ban the exports to get the export exhaust. When you go; Businesses say that this sum will be reimbursed by the Ministry of Commerce, it will be rejected because the sum is paid by the Stamp Authority, which, following the Ministry of Procurement.

Bean's cards will put skilled work after closing vegetables

According to Abbas, he said: "It is a contractor. We've had factories and we've lost skilled work. Some were abroad, some worked in other jobs, such as sold. Smoke on the face or position on the vehicle "

According to Abbasi, who confirmed that he had his final request to government about a year ago, but there is no response, which has resigned his position from the Department's leadership to be able to; trying to solve business problems, but the Chamber of Metallurgical Industries has not yet accepted this demand.

The Subject Department is one of the obstacles to the production of foreign gold products abroad, according to Abbasi, where the gold store works on crude gold against the buyer, and this gold will be taken over in a sack and the interview with the exchanges and the exchange, which will; Bring this process into Dubai for example only one day Compared to that, these steps are going on in Egypt for about a week. It's not a & # 39; including poor and exempted jobs subject to customs duties.

The gold market is falling from 300 tonnes per year by 2011 to 50 tonnes at present

Abbasi explained that his / her was not Produce gold output widely because its market was including housing yield, where the annual cost of around 300 tons was before 2011, and then reduced to 30 tonnes per year, which now rises to 50 tonnes, which is ; show how the market returned quickly Post-

Abbasi said that the gold market was "sick and not to die" says that there is no " but about 80% of the ordinary buyers, who are very happy to save due to the decline in buying power, and many of the factories close due to the decline, but their market Increasing consumption, which rises to 50 tonnes per annum.

On its raw gold stores, Abbasi said that 200 tonnes of raw oil from abroad, especially in Dubai and Switzerland, were added, as well as 100 tonnes of purchase from the large people for jobs; restarted. The public is doing and doing; 50 tons of it, and repeat the 50 tonnes overseas as a particularly rugged place for Dubai as the nearest one, Switzerland also has to do it. giving clarity.

300 factories and workshops listed in the Department .. The largest number not less than two miles

The head of department does not know the real number of factories and workshops in gold industry in Egypt because many of them are not registered with the department, saying that only a number of the factories and workshops have registered only 300 , although there are not less than two thousand factories and a workshop.

Gold Bank … Businesses requesting as Arab and Islamic countries

The head of the department wanted the bank to return to gold, rejected by the Central Bank, saying that this has been done in many Arab countries and Islamic supporter of the factory; going at a 2% interest rate, which will give competitive advantage to producers in the competitive countries. Egyptian factories.

Abbasi asked the government to take care of business, without trading, because all Egyptian businesses have been in business. behavior and industrialism does not have a skilled work because of the citizens' culture; refusing technical work. "We have stronger companies in Egypt, but the government should look at the industry that promises from the unexpected conclusions," he said.

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