President Sisi directs intensifying efforts to develop Egypt’s industry

CAIRO – 27 August 2023: President Abdel Fattah El-Sisi gave directives to strengthen efforts toward developing the Egyptian industry, according to a statement from the presidency on Sunday.

The president met with Prime Minister Moustafa Madbouly, and Minister of Trade and Industry Ahmed Samir, to be updated on the implementation of the national strategy for the development of the industrial sector, the future vision the state has adopted to increase growth rates of this sector and its share of GDP, and boosting the size snd quality of industrial exports, the statement added.

President Sisi was also briefed on the ongoing efforts to establish integrated industrial complexes, and to boost transformative industries as well as priority fields, in which Egypt has an industrial base, opportunities and competitive advantages, at both the regional and international levels.

"Industry is the major engine of comprehensive economic growth, given the impact of the progress in industry on bolstering all other sectors,” Presidential Spokesperson Ahmed Fahmy said.

President El-Sisi also stressed the need to continue efforts to empower the private industrial sector and eliminate the impediments it encounters in its activities and businesses, particularly by providing a conducive environment and offering incentives and facilitations supporting industrial investment. 

This is in addition to strengthening efforts to consolidate the culture of added value in the Egyptian industry, in a manner that yields the greatest possible benefit, in terms of deepening local manufacturing and technological development and in terms of achieving the highest return for the benefit of the Egyptian economy and the citizens.