Investment Magazine/Private
The Ministry of Economy, Industry and Investment, in cooperation with the General Authority for Investment (GAI), organized on 10/3/2025, a consultative meeting with steel and plastic manufacturers, chaired by Minister of Economy, Industry and Investment Engineer Moeen Hashim Al-Mahakri.
In the meeting, which was attended by the President of the General Authority for Investment (GAFI), Yasser Abdul Karim Al-Mansour, Undersecretary of the Ministry of Economy for the Industrial Sector, Ayman Al-Khalqi, Al-Khalqi, in addition to Mohammed Al-Fazrai, Head of the Projects Sector at GAFI, Head of the Iron, Plastics and Building Materials Sectors at the Chamber of Commerce and Industry in Amanat, Marwan Al-Wahishi, and representatives of local companies manufacturing iron and plastics.
During the meeting, Minister Al-Mahakri emphasized the importance of these meetings to exchange visions and identify the requirements for supporting and developing local industries, stressing that the Investment Law 2025 offers unprecedented incentives and guarantees for the public and private sectors, while providing full support for national industries and high protection for the local product. The goal is to strengthen the industrial sector and reduce the import bill through value chain management, he said.
The meeting discussed ways to gradually promote the localization of the iron and plastic industry by taking advantage of the incentives provided in the investment law, increasing job opportunities, absorbing unemployment, and providing high-quality national products at competitive prices.
The meeting also announced the issuance of decisions to protect 15 products after Ramadan, and called on steel and plastic manufacturers to draw up a preliminary list of products that can cover the needs of the local market. The minister called on factories to switch to using renewable energy to reduce production costs and improve competitiveness.
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