President Meets with Prime Minister and Minister of Trade and Industry

President Abdel Fattah El-Sisi met today with Prime Minister Dr. Mostafa Madbouly, and Minister of Trade and Industry Mrs. Nevine Gamea.

The Spokesman for the Egyptian Presidency stated that the follow-up meeting discussed efforts to localize industry and the national program for import substitution and domestic production.

In this regard, the President directed the government to expand the scheme for the establishment of industrial complexes in new geographical areas across Egypt and to provide the necessary financial resources. The aim is to have achieve integration between the system of industrial complexes as well as the strategy promoting local components and link these complexes logistically to the road and axes network and new infrastructure across Egypt.

The President also gave orders for conducting in-depth studies concerning the transfer of modern industrial technology in priority areas in partnership with major international companies with long-term experience. The aim of these studies it to ensure the sustainability and stability of the localization process of these industries in Egypt on the long run.

The Spokesman added that the President also directed that the system of various industrial technical schools be improved and the capabilities of their employees be raised. This would be done in partnership and cooperation with the private sector. These efforts, in turn, would support the industrial specializations in various sectors that benefit comprehensive development plans in Egypt.

The Minister of Trade and Industry presented the most important results of her recent foreign tour to a number of Arab, Asian and African countries. She also presented the ongoing arrangements for the establishment of the Egyptian pavilion at Expo 2020 Dubai, where the tourism sector, major economic sectors and national projects adopted by Egypt during the past years are to be displayed.

During the meeting, it was added that a number of different events would be hosted over a period of 6 months starting from October 2021. These events would shed light on the pioneering development initiatives launched by Egypt at all levels during the past years.

Given its potentials, Egypt will be represented as an important destination for global investments and an attractive tourist destination.

Furthermore, Mrs. Nevine Gamea presented the most important executive steps taken to support industrial activities and stimulate industry at the national level, which would reflect positively on the performance of priority industrial sectors and help overcome the most prominent obstacles they face. This is done in coordination with various ministries and relevant authorities.

These steps include making the necessary legislative amendments on regulations and laws governing industrial activities and reviewing mechanisms for obtaining industrial approvals and licenses. This is in addition to promoting industrial investment in production activities related to providing the local market needs of primary production inputs and intermediate goods as well as supporting industrial activities related to exporting.

The steps also include efforts to encourage industrial activities for medium and small enterprises and integrate them into the formal economy as well as to facilitate the provision of the raw materials needed for industry.