President El-Sisi Reviews Efforts to Implement the National Industrial Strategy

Today, President Abdel Fattah El-Sisi held a meeting to review efforts underway to implement the National Industrial Strategy. The meeting was attended by Prime Minister, Dr. Mostafa Madbouly, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Lieutenant-General Kamel Al-Wazir; Minister of State for Military Production, Eng. Mohamed Salah El-Din; Minister of Local Development, Dr. Manal Awad Mikhail; Minister of Finance, Mr. Ahmed Kouchouk; Minister of Housing, Utilities and Urban Communities, Eng. Sherif Sherbiny; Minister of Public Business Sector, Eng. Mohammed Sheemy and Minister of Investment and Foreign Trade, Eng. Hassan El-Khatib.

Spokesman for the Presidency, Counselor Dr. Ahmed Fahmy, said the meeting discussed the various axes and phases for the implementation of the National Industrial Strategy, which targets the prompt enhancement of the Egyptian industry, leveraging all industrial resources available in Egypt, and unleashing the capacities and potential of both the domestic and foreign private sectors. The strategic goal is to transform Egypt into an advanced regional and international industrial hub, thereby increasing the volume and value of exports and promoting the overall national economy, which would positively impact the standard of living of the citizens.

The meeting highlighted the main challenges and obstacles that have been negatively affecting the Egyptian industry, along with ways to address and resolve these issues comprehensively. President El-Sisi emphasized that the industrial sector is a high priority sector for the state, and that the current international and regional developments, while posing significant challenges, also provide opportunities to establish a robust industrial base in Egypt. The President gave directives to the government and the Ministerial Group for Industrial Development to continue intensive efforts to promote the localization process of promising industries in Egypt, transfer technology with the participation of the private sector, whose role shall also be enhanced. This will improve the competitiveness of the Egyptian industry both domestically and internationally.

President El-Sisi also affirmed the need to focus on training and improving the skills of the Egyptian workforce, as well as updating the Egyptian industrial investment map to attract more industrial investments across various sectors.

Additionally, the President gave directives to study the state of defaulting factories, including the challenges they encounter, and develop unconventional solutions to pave the way for their re-operation in order to ensure protection of the investments injected and safeguard workers’ rights.

Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.