Egypt Daily News – Egypt has been actively working to bolster its local industry by implementing a national strategy aimed at transforming the country into both a regional and international industrial hub.
resident Abdel Fattah El-Sisi convened a meeting on Wednesday to assess the progress of this strategy, attended by Prime Minister Mostafa Madbouly, Minister of Industry and Transport Kamel El-Wazir, and other key officials.
The strategy’s primary objectives include enhancing the capabilities of both local and foreign private sectors, increasing the volume and value of commodity exports, and ultimately strengthening the national economy.
This effort is expected to lead to improved living standards for citizens, as highlighted by a presidential spokesperson.
During the meeting, the participants discussed the various challenges that have historically hindered the growth of Egyptian industry and explored potential solutions to overcome these obstacles.
President El-Sisi emphasized the high priority given to industrial development, noting that despite the challenges posed by international and regional changes, there are also significant opportunities to build a robust industrial foundation in the country.
To this end, he directed government efforts towards fostering the localization of promising industries and facilitating technology transfer, while encouraging greater involvement from the private sector. This approach aims to enhance the competitiveness of Egyptian industries both domestically and abroad.
Additionally, the importance of investing in training and skill development for Egyptian workers was underscored. An updated local industrial investment map is also being considered to attract further investment across various sectors.
In conclusion, President El-Sisi instructed officials to examine and address the issues faced by underperforming factories, seeking innovative solutions to revitalize these operations. The goal is to safeguard the investments made in these facilities and protect the rights of the workers involved.
