Cairo– The Cement Affiliation of the Egyptian Federation of Industries expresses its appreciation to the Egyptian authorities, the Industrial Improvement Authority and the Competitors Safety Authority for issuing Resolution 56 of 2021, which goals to rationalize the entire capability of cement manufacturing with the intention to lower the oversupply glut that has plagued the sector over the previous 3 years.
The present disaster of the business and the necessity to protect the plurality of the market in addition to defending the business, its jobs and finally the pursuits of the buyer,
The important thing drivers behind Egypt’s Competitors Safety Authority’s choice to rationalize cement manufacturing lies within the present business disaster, and the necessity to protect market plurality on one hand, whereas defending the business, jobs and client pursuits then again. Such drivers have been highlighted earlier than by the 23 cement corporations, represented by the Cement Affiliation of the Egyptian Federation of Industries.
The choice printed on July fifth goes into impact on July fifteenth for a interval of 12 months, topic to evaluation.
The Cement Affiliation of the Egyptian Federation of Industries reaffirms its ongoing dedication to uniting the mixed efforts of all stakeholders within the cement sector, in the direction of a extra sustainable route for the business.
The Affiliation additionally said that it’ll proceed to commit its efforts to foster a aggressive surroundings based mostly on equity and rational financial rules for all corporations within the business in accordance with Egyptian Legislation on Competitors and Monopolistic Practices.
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