Egypt PM reviews national efforts to localise, strengthen industry

Egypt’s Prime Minister Moustafa Madbouly has chaired a high-level meeting to review ongoing efforts to support and localise industry, according to a Cabinet statement.

Madbouly stressed the government’s strong commitment to developing the national industrial base, which he described as a cornerstone of Egypt’s sustainable economic development strategy, as stated in the report.

He highlighted ongoing efforts to enhance the business environment, simplify procedures for investors, encourage innovation and technology in industry, and implement investment plans to deepen and localise manufacturing across sectors.

The meeting reviewed measures taken to support Egypt’s industrial sector and overcome its challenges. Discussions also covered the creation of an integrated industrial environment that boosts production efficiency and global competitiveness.

The talks also discussed initiatives to boost local manufacturing capabilities in line with Egypt’s Industrial Strategy 2030, such as reducing import dependence, achieving self-sufficiency, and attracting new industrial investments.

Attribution: Amwal Al Ghad English

Subediting: M.S.Salama