Egypt to boost industrial GDP contribution to 20% by 2030 under new strategy
The Egyptian government has set ambitious goals to boost its industrial sector, aiming to increase its contribution to the national GDP from 14 per cent to 20 per cent by 2030.
This is part of a newly approved National Industrial Strategy, unveiled by Kamal El-Wazir, Deputy Prime Minister for Industrial Development, and Minister of Industry and Transport, during a press conference on Thursday.
The strategy focuses on transforming Egypt into a regional industrial hub through a comprehensive plan to revitalise the sector. A key target is to expand the green economy, with an aim to raise its share of the GDP to 5 per cent by focusing on sustainable, green industries. The plan also aims to create 7 million jobs in the industrial sector—more than double the current workforce—by improving worker skills, reducing unemployment, and integrating small factories into the formal economy.
In addition to the goal of job creation, the strategy will prioritise the revival of struggling factories and the completion of those under construction. The plan includes support for attracting both local and foreign investors to expand the industrial base, particularly in sectors like engineering, food processing, chemicals, and textiles, where Egypt has strong competitive potential. Special emphasis will also be placed on improving the quality of Egyptian products to better compete both in local markets and abroad.
Minister El-Wazir emphasised that the strategy is built on practical and realistic foundations, taking into account Egypt’s rich natural resources, strategic location, and evolving infrastructure. It is designed to capitalise on existing industrial capabilities, while also encouraging innovation through research and technology centres across the country.
The strategy will be implemented over six years (2024–2030) in three phases, focusing on various activities and programmes in each stage. Through this comprehensive approach, Egypt hopes to establish a more resilient, competitive, and sustainable industrial sector that can meet both domestic needs and increase exports, ultimately contributing to greater economic stability and growth.
Attribution: The Egyptian Cabinet
