Sisi orders providing supportive environment for heavy industries in Egypt

CAIRO – 26 August 2023: Egypt’s President Abdel Fattah El-Sisi ordered on Saturday providing a supporting environment for the heavy industries sector, especially the iron and steel industry.

Sisi made the remarks in a meeting with Head of the Armed Forces' Financial Affairs Authority Ahmed El-Shazly, Director General of the National Service Projects Organization of the Armed Forces Walid Abul Magd and CEO of Solb Misr Company Emad El-Kayyal.

During the meeting, Sisi reviewed the iron and steel industry projects across Egypt within the framework of the state’s plan to develop the heavy and strategic industries, the Egyptian Presidential spokesman, Ahmed Fahmi, said in a statement.

Sisi ordered continue efforts aiming at providing a supportive environment for the heavy national industries sector taking into account the vital role played by this sector in the ongoing development process in all sectors across Egypt.

Heavy industries also reduce pressure on hard currency by making use of local raw materials, the Presidency said.

Moreover, Sisi and the officials also reviewed efforts to deepen local industrialization in the heavy industries sector, enhance competitive and export capabilities, and overcome related logistical obstacles, the Presidency added.