Egypt’s PM Reviews with World Bank Industry Development Strategy

PM Mostafa Madbouly held a meeting this evening with World Bank officials to review the proposed elements to be added to the industry development strategy, which is being prepared by the Ministry of Trade and Industry. 

At the beginning of the meeting, the Prime Minister pointed out that cooperation with the World Bank to prepare this strategy comes within the framework of ensuring that the expertise of the international foundation is useful in preparing similar strategies for other countries that have been able to achieve a breakthrough in the industry file.

He added: We aim to prepare an integrated national strategy for industrial development in line with various very difficult global challenges and conditions witnessed by the whole world, and Egypt among them, in an effort to achieve a high industrial growth rate and increase the share of industry in GDP, as well as reaching high growth rates for Egyptian exports.

During the meeting, Ahmed Samir Minister of Trade and Industry explained that the preparation of a national strategy to promote the industrial sector was one of the recommendations of the economic conference held in October 2022, stressing that the industrial sector is one of the most important priorities for the government during the current phase.

The minister pointed out that the national industrial development strategy is being prepared in cooperation and benefitting from the expertise of a number of other international institutions, such as the United Nations Industrial Development Organisation (UNIDO) and the German Development Agency (GIZ), in order to obtain technical and advisory support during the preparation of the strategy.