Coronavirus crisis provides opportunity to boost Egypt’s industrial sector – PM

Egypt’s Prime Minister Moustafa Madbouly  said the coronavirus crisis provides an ideal opportunity to boost the Egyptian industrial sector, Ahram Online reported on Wednesday.

The prime minister made the remarks during a meeting on Tuesday with Trade and Industry Minister Nevine Gamea and President of the Federation of Egyptian Industries (FEI) Mohamed El-Sewedy to discuss means to support the industrial sector against the negative economic impact of the coronavirus outbreak.

The crisis offers a “golden opportunity” to rely on local industries and boost domestic manufacturing, Madbouly said, according to a cabinet statement.

He added that the government is willing to provide all possible incentives for Egyptian manufacturers to support the industrial sector.

El-Sewedy said a meeting was held Monday with the FEI board members via video conference to probe means of supporting the industrial sector during this critical period.

During the meeting, the trade minister and the FEI chair agreed to work to promote the industrial complexes being set up by the government to provide necessary production materials.

The meeting came as the pandemic continues to take its toll on major Egyptian industries after the suspension of operations at several facroties and the lowering of workforce at others.