Egyptian printing industry faces new crisis
A new financial crisis is currently facing the Egyptian printing industry, according to Akhbar Al-Yaum daily. This crisis comes in the aftermath of a tax hike on imported printing paper and related accessories including ink, zinc sheets and film.
Taxes and customs imposed on printing products imported into Egypt are as high as 32 percent, versus no more than a three percent levy on similar products entering neighboring countries. Consequently, the printing of a growing number of books and magazines is transferred from publishing houses in Egypt to Malta, Jordan, Cyprus and Lebanon.
The total investments in the local printing industry, including both the private sector and the state-owned printing houses, are estimated at five billion Egyptian pound ($1.3 billion). Presently, there are 4,400 printing houses registered in the Egyptian Printing Chamber, and another 3,600 non-registered printing houses operate throughout Egypt. The local printing sector employs some 100,000 workers. — (MENA Report)
© 2001 Mena Report (www.menareport.com)