Government to restructure struggling industries, no forced closures – PM

Egyptian Prime Minister Mostafa Madbouly emphasised on Wednesday that no industrial facility would be closed without his personal approval. To ensure transparency and fairness, the prime minister said a committee from the Ministry of Industry, led by the Industrial Development Authority (MTI), will conduct inspections. This committee will include representatives from various relevant agencies.

The government aims to bolster Egyptian industry’s competitiveness both domestically and internationally. To achieve this, Prime Minister Madbouly announced that President Abdel Fattah al-Sisi has directed continued government efforts to localise promising industries and transfer technology, with active participation from the private sector. The government will collaborate with relevant ministries and agencies to address challenges faced by struggling factories and develop innovative solutions.

Attribution: The Egyptian Cabinet

Subediting: Y.Yasser