Minister of Trade unveils new round of Industrial Innovation Award

Egypt's Minister of Trade and Industry Ahmed Samir has launched the Industrial Innovation Award's fresh edition, revealing a new three-year action plan to spur innovation in the industrial sector. The award program, run by the Ministry of Trade and Industry and GIZ on behalf of Germany's Federal Ministry for Economic Cooperation and Development, intends to acknowledge and support Egyptian firms that have developed and implemented various innovations. According to Samir, under President El-Sisi's direction, the award program encourages innovation, further develops the industrial sector, and motivates other local companies to improve sector competitiveness. Egyptian industrial companies in the fields of chemical, food, engineering, printing, and packaging industries can register for the program until October 30, 2023. Alongside this, Samir revealed plans for a new three-year action plan for 2025 to stimulate innovation in the industrial sector aligning with Egypt Vision 2030 and sustainable development goals. The Ministry is closely coordinating with partners from various sectors to develop this plan.