Prime Minister Mostafa Madbouly has outlined ambitious plans to boost Egypt's pharmaceutical exports to $3 billion by the year 2030. After visiting several pharmaceutical factories in the 6th of October City, Madbouly emphasized the industry's significant growth and potential.
Egypt's pharmaceutical sector has experienced substantial expansion in recent years. With the addition of 15 new factories in the past three years, the total number of such facilities now stands at 172. This growth has been fueled by private sector investment and has led to increased self-sufficiency in critical medicines.
The Prime Minister highlighted the industry's contribution to both domestic healthcare needs and international trade. Egyptian pharmaceutical products are now exported to over 60 countries, including European markets. The expansion has also spurred growth in related sectors, with new factories established for cosmetics, medical devices, and essential raw materials.
Madbouly assured the public that Egypt is on track to meet domestic demand while increasing exports. The pharmaceutical industry is poised to play a pivotal role in driving the country's economic growth. With 91 out of every 100 boxes of medicine used in Egypt being produced locally, the sector's potential for further growth is immense.
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