Egypt’s president orders enhancing reliance on clean energy, fostering industry localization efforts

CAIRO – 2 June 2021: Egyptian President Abdel Fattah El-Sisi ordered enhancing the reliance of clean energy and strengthening the efforts to localize industry so as to decrease importing, in a meeting with the prime minister and other ministers.

Sisi highlighted the need to raise industry localization to develop the industrial sector in Egypt, provide more job opportunities and increase the domestic product, the Presidency said in a statement.

“The President also instructed that agro-industries be promoted due to their diversified returns to the economy and society,” the statement read.

The meeting was attended by Prime Minister Mostafa Madbouly, Minister of Planning Hala El-Said, Minister of Finance Mohamed Maait, Minister of Communications Amr Talaat, Minister of Agriculture Al-Sayed El-Quseir and Minister of Trade Nevine Gamea.

The national program for structural reforms within the framework of the "Egypt Vision 2030" strategy was discussed during the meeting.

“The meeting discussed the program representing the second stage of the economic and social reform process, which aims to transform the Egyptian economy into a productive one with competitive advantages,” the Presidency said.

The meeting highlighted the need to focus on the promising sectors and supporting economic ability so that to achieve a balanced and sustainable growth.

The meeting also reviewed the high-priority economic sectors in the structural reform program, especially in the field of technology-intensive manufacturing industries, the agricultural sector, and the communications and information technology sector.

This should be done “via focusing on a number of main axes in those sectors. These axes include developing the legislative system, facilitating government transactions, boosting transport and logistics efficiency, and deepening financial inclusion, within the framework of the government's commitment to achieving economic reforms taking into account the humanitarian aspect,” the statement added.

“This was reflected in many social protection initiatives targeting the neediest groups, as part of the state's unprecedented efforts to work on a large, integrated scale among all state institutions, the private sector, civil society, and development partners in Egypt to achieve these targets,” the statement added.

“The President instructed the government to continue its efforts in structural reforms, especially those related to the development of manpower and basic services for citizens, particularly by pursuing efforts to provide social security coverage and encourage family development,” the statement added.

Sisi also “underlined the importance of developing technical education and vocational training systems, improving the health and education sectors, strengthening the role of the private sector, promoting financial inclusion and providing financing.”