President El-Sisi: industry, agriculture, education key to Egypt’s economic transformation

CAIRO – 22 December 2024: During his visit to the Police Academy, Egyptian President Abdel Fattah El-Sisi emphasized the critical need for intensified efforts in industry and agriculture, identifying these sectors as essential for economic diversification. He announced plans to expand Egypt’s agricultural land by 4 million acres by 2026, a move aimed at bolstering food security and supporting agro-industrial ventures.

 

This initiative, he explained, aligns with broader goals to enhance industrial output and reduce dependency on imports. "Focusing on industrialization can elevate Egypt to a new level of development," El-Sisi stated. "We must work collectively—government, investors, and entrepreneurs—to seize this opportunity."

 

The President also highlighted the broader financial challenges Egypt faces, revealing that the country requires annual expenditures ranging from $1 to $2 trillion, equivalent to nearly EGP 50 trillion, to meet developmental needs in sectors such as education, healthcare, defense, and investments. However, with a GDP of only 18 trillion Egyptian pounds and a national budget of just 3 trillion pounds, the disparity is stark. "This is the reality," he said. "It’s essential for the public to understand the scale of the challenge. A country like Egypt, with a population of 120 million, requires significant resources to thrive."

 

He further detailed efforts to enhance Egypt’s logistical infrastructure, particularly around the Suez Canal, which handles 12-13% of global trade. The President outlined plans to develop new logistics zones and strategic hubs along the canal, including partnerships with countries such as Indonesia to establish shared industrial zones and refine commodities like palm oil. These projects, he explained, aim to capitalize on Egypt’s strategic location to attract transit trade, create jobs, and add value to exported products.

 

El-Sisi also underscored the importance of education as a cornerstone of national development. He estimated that achieving a robust educational system would require 15 trillion Egyptian pounds, or $10,000 per student annually, given the 30 million students in Egypt. The government, he said, is committed to diversifying educational opportunities through initiatives like the universities of Galala, Alamein, and King Salman, which aim to retain students within Egypt and save millions in foreign exchange.

 

Additionally, he urged families to focus on disciplines such as mathematics, physics, and computer science, which he identified as crucial for the country’s future. The President announced plans for a new educational facility to address the skills gap and prepare graduates for the demands of the global digital economy, further solidifying his vision for a diversified and resilient economy.