Egypt’s new industry minister vows to boost manufacturing, cut imports

Egypt’s newly appointed Industry Minister Khaled Hashem pledged on Wednesday to step up efforts to develop the country’s industrial sector, increase production, and enhance the competitiveness of locally made products, following his swearing-in before President Abdel Fattah El-Sisi.

In his first remarks after taking office, Hashem said the ministry would move forward on all files related to industrial development in a way that supports the national economy and benefits both manufacturers and citizens.

“The ministry will spare no effort in advancing Egyptian industry and supporting industrial investors to raise output and improve product quality,” he said in a statement. He added that boosting local manufacturing would help meet domestic demand and strengthen the global competitiveness of Egyptian goods.

Hashem also stressed the importance of building on efforts undertaken during the previous tenure overseeing the industry portfolio, aiming to achieve what he described as a qualitative leap in the sector and strengthen engagement with both local and foreign private-sector representatives.

The minister met with senior officials at the Ministry of Industry’s headquarters in the New Capital to review ongoing projects and an urgent plan to accelerate industrial growth. Discussions included the development of strategic sectors and 28 priority industries identified for increased investment as part of Egypt’s strategy to deepen local manufacturing and reduce reliance on imports.

The ministry said coordination would continue to improve institutional performance and advance industrial development targets in the coming period.

Attribution: Amwal Al Ghad English