Egypt is keen to achieve self-sufficiency in many important industries: Sisi

CAIRO – 26 December 2022: Egypt’s President Abdel Fattah El Sisi affirmed on Monday that the state is keen to achieve full self-production of all materials that cannot be dispensed with in Egypt, and this is for several reasons, including solving the unemployment problem.

He added in a speech during inaugurating two new factories at Abu Rawash, that Egypt’s previous production of medical gases, was sufficient for the domestic consumption, however, “due to the COVID and the Ukrainian-Russian war repercussions during the past 3 years, we had to more take steps and prepare for challenges that might face us”

President Sisi shed light on the importance of establishing national projects to achieve self-sufficiency in many important industries, such as chlorine and soda, which are imported annually at billions of dollars.

“We know that prices have become burden on people, but we can't do anything more than what we already doing. This is the right time when we must all come together for the favor of people and do not raise prices, especially with regard to food and drink goods” Sisi said,

He noted that establishing factories for the production of Baking Soda cannot be postponed, as the state imports annually a total cost of $300 million of soda.

He affirmed that he is being completely honest with Egyptians since assuming office and discussing everything with them so they would be able to know the complete truth regarding the economic situation in their country.

He also noted to the recent raised controversy establishing the Suez Canal Authority fund which was approved in principle by the parliament last week.

“The government had to establish this fund to provide a specialized source for the canal of which enables it to participate in projects or spend more on development without the need to turn to the ministry of finance” Sisi said

The president explained that the entry of the Suez Canal Fund draft Law into Parliament gave it legal and sovereign immunity, noting that “no one can approach the state's private funds without my direct approval”.

Sisi said that the fund in reality is a ‘dream’ that will enable the Authority to have its privet funding channel; however, he directed that all draft laws “must be discussed even before presenting it to the Parliament to prevent the spread of fear and rumors”.

“Fear is normal, Egyptians wanted to assure that nothing is going to be misused and that is why the law should’ve been discussed earlier.” Sisi said.

Sisi also discussed the goods that have been in ports during the past period and the government efforts to release it.

Prime Minster Mustafa Madbouly also explained during the inauguration ceremony that during the past 23 days, the government released goods with total coast of $5 billion.

“Until last November, the Egyptian ports had goods with total cost ranges between $15 and $16 billion, However, after the recent releasees, the remaining goods in ports now, are nearly $9 Billion costed goods” Madbouly added

He noted that by the holy month of Ramadan, a cost of $4 billion of merchandise will be released, “other plans will be set for the releasing of the rest of goods”.

PM Madbouly explained that when he assumed office, the state had only two factories for the Chlorine production, which is used by the water factories. “If we had continued on the same course since then, we would’ve been importing nearly the half of our Chlorine production.”

President Sisi then toured the newly inaugurate factories in Abu Rawash and took a souvenir photo with the workers.

Sisi arrived Monday at the Chemicals Complex in Abu Rawash district, Giza governorate to inaugurate two factories for the production of medical and industrial gases and a tri-generation power plant

Prime Minister Mostafa Madbouli and Defense Minister Mohamed Zaki welcomed the president upon his arrival at the Chemicals Complex in Abu Rawash.

The inauguration began with verses from the Holy Quran, followed with a short brief on El Nasr company For Intermediate Chemicals and its achievements during the past period.

El Nasr Company for chemicals was established in 1972, it's specializing in chemical industries, fertilizers, and industrial/medical gases and household pesticides. As a pioneer, El Nasr Company for Intermediate Chemicals using the latest global technologies and modern techniques in their respective areas, which led to high quality of products while preserving the environment from all types of pollution.