Cairo – July 29, 2024: In a bid to increase the industrial sector’s attractiveness, the Ministry of Transportation and Trade is working on developing a new digital platform directed at potential investors, as well as a new industrial map.
In a high-level meeting with several ministers on Monday, Deputy Prime Minister and Minister of Industry and Transport, Kamel Al Wazir, shared that the new Egypt Digital Industrial Platform seeks to streamline processes and procedures for investors, promoting transparency and ease of operations.
Al Wazir emphasized the platform's role in simplifying interactions with investors, stating that it is designed to facilitate investment by reducing bureaucratic hurdles.
The platform will provide comprehensive services, including an industrial map, details on investment opportunities, and streamlined administrative procedures.
Al Wazir also highlighted his ministry’s adoption of a comprehensive 7-pillar strategy aimed at bolstering Egypt's industrial sectors, aiming to elevate the industry's contribution to the country’s GDP from 16 percent to 20 percent by 2027.
This includes reducing dependency on imports, fostering local manufacturing, attracting foreign investments, and expanding industrial capabilities to boost exports, particularly in green and electronic industries.
Highlighting the government's commitment to industrial growth, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat noted that 37 percent of the government's investments in the current fiscal year are allocated towards industrial development and infrastructure.
The new digital platform builds upon the previously launched “Egyptian Industry” platform, which provided access to introductory, production, and statistical information of all public companies affiliated with the ministry and mixed and private sector companies.
It also provided an industrial map, a list of made-in-Egypt products, data on partnerships and investment opportunities, a list of trademarks, and a geological survey.
The transport minister noted that the new Digital Industrial Platform would focus primarily on investors, simplifying the processes and procedures required.
The meeting also addressed ongoing challenges and proposed legislative amendments to further improve the investment climate. This aligns with the government's broader plan to increase the industrial sector's contribution to GDP by 38 percent by the fiscal year 2026/2027, as outlined by Prime Minister Mostafa Madbouly.
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