PM reaffirms govt. commitment to boosting private sector

CAIRO – 3 April 2024: Prime Minister Mostafa Madbouly reaffirmed the government's commitment to boosting the private sector, particularly in the industrial sector, which has been identified as the top priority during the current stage of Egypt's development.

 

Madbouly stressed the need to encourage and prioritize local producers in all tenders issued for projects and the supply of equipment and products

Madbouly recently visited several factories in 10th of Ramadan City, Madbouly appraised the pivotal role of the private sector, particularly in the industrial sector, which remains a top priority for the state. Recognizing its effectiveness in supporting the national economy by stimulating local production and facilitating export opportunities. 

 

The Prime Minister commended major international companies that have established factories of the highest standards within a remarkably short period. 

 

Madbouly's tour also included an inspection of national factories on the 10th of Ramadan City, responsible for meeting local market demands while allocating a substantial percentage of their output for export. He also emphasized the importance of supporting local producers, granting them preferential treatment in project tenders, and procuring equipment and products.

 

Madbouly also highlighted the significant messages conveyed in President Abdel Fattah El-Sisi's speech before the House of Representatives in the New Administrative Capital. One primary objective President El-Sisi highlighted was achieving strong, sustainable, and balanced economic growth. He emphasized the need to strengthen the role of the private sector and identified agriculture, industry, communications, information technology, and tourism as sectors to be prioritized for increased contributions to the domestic product.

 

President El-Sisi underscored the importance of expanding the agricultural area and improving productivity to ensure food security for Egypt. He also expressed the intention to attract more local and foreign investments, which would provide millions of sustainable job opportunities and enhance the role of the private sector as a crucial partner in leading development.