PM Madbouly discusses boosting Egyptian exports with trade minister
During the meeting, Samir clarified several objectives of the national strategy, including increasing Egyptian petrol and non-petrol exports from $53 billion to $145 billion annually over the next six years, according to a statement issued by the Egyptian cabinet following the meeting.
Furthermore, Samir said the strategy aims to increase industrial output by 20 percent annually and provide 7 to 8 million jobs.
The strategy, he noted, also seeks to increase the contribution of the green economy to the GDP by 5 percent. It also outlines a vision to turn Egypt into a hub for sustainable manufacturing and a key player in international trade by unlocking its potential and exploiting its unique position at the crossroads of global markets.
Madbouly issued instructions to develop an action plan to commence immediate implementation of the strategy.
In return, Samir affirmed that the executive plan for implementing the strategy would be finalized by the end of Ramadan.
Furthermore, Madbouly highlighted the importance of focusing on the 152 industries identified as necessary, especially since they reduce the import bill, provide targets for global manufacturers, and promote the incentives adopted for these industries.
Moving on to the status of industrial complexes, Samir explained that there were 16 industrial complexes in 15 governorates, with investments amounting to EGP 10 billion.
These complexes, he elaborated, comprise over 4800 industrial units that provide approximately 48,000 job opportunities. Among these complexes are the Bayad Al Arab Industrial Complex in Beni Suef Governorate, the Margham 2 Industrial Complex in Alexandria Governorate, the Al-Baghadi Industrial Complex in Luxor Governorate, and the Mitaheera Industrial Complex in Minya Governorate.
During the meeting, Madbouly also reviewed the status of the 3229 units allocated within the 16 industrial complexes. In this regard, Samir presented to the PM a report on the operational status of the units that confirmed that the facilitations the government previously approved for those units significantly contributed to increasing the number of industrial units allocated to investors.