Egypt’s SCZONE factories have 40%-95% local content – PM

New factories in Egypt’s Suez Canal Economic Zone (SCZONE) have local content ranging from 40 per cent to as much as 95 per cent in some facilities, Prime Minister Moustafa Madbouly said on Sunday.

Madbouly said during a press conference following a tour of the zone that between 70 per cent and 100 per cent of the output from the new factories is being exported, with the remainder sold on the domestic market.

He said the increase in locally manufactured components was particularly encouraging, as factories moved from assembling products to producing them fully in Egypt.

“At least 40% is local content, and this percentage has reached 95% in some factories, which is very good,” Madbouly said.

He added that factory owners had shown considerable willingness to take on the challenge of increasing domestic manufacturing and moving beyond assembly toward full production.

Madbouly’s comments come as Egypt seeks to expand its industrial base, increase local production, and boost exports through investment in the SCZONE.

By Radwa Islam
Amwal Al Ghad English — Internship Training Programme
Edited by Yomna Yasser