Egypt’s FM: State works on localization of various sectors

CAIRO – 18 May 2024: Egyptian Prime Minister Mostafa Madbouli toured various industrial and technological projects in Beni Suef Governorate on Saturday.

The Prime Minister added that Egypt’s economic reform is based on several sectors, the most important of which is industry. He noted that the government is working on the localization of various sectors like industry, agriculture, communication and Information Technology.

The state aims at expanding the agricultural area, increasing foreign direct investments, and further strengthening the role of the private sector, bringing its contribution to the national economy to 65% during the next three years, the Prime Minister said.

Madbouli toured El Araby the El-Araby Washing Machine Manufacturing Company, Samsung Egypt factories, and the Syrian Kerman pharmaceutical factory in Beni Suef.

The Prime Minister continued that government is ready to provide various possible incentives that Samsung Egypt needs to enhance its competitiveness in accessing foreign markets from Egypt.

His tour began by visiting the latest factory of the El-Araby Washing Machine Manufacturing Company, on an area of 40,000 square metres. The factory produces 700,000 washing machines a year with a local component of 85%. It has 1200 workers.

Don’t miss to read more about the Prime Minister’s tour