Gov’t seeks to turn Egypt into regional, industrial hub

Deputy Prime Minister for Industrial Development Minister of Industry and Transport Kamel al-Wazir asserted on Monday the Egyptian government is paying a greater interest to the industry sector in accordance with directives of President Abdel Fattah al-Sisi.

 

The government seeks to turn Egypt into a regional, industrial hub and a hub for transport, logistics and transit trade, added Wazir at a session entitled “investment in industry.. chances of integration and growth” on the sidelines of the the International Annual Industry Conference and Exhibition (IMCE).

 

The ministry developed a different strategy for turning Egypt into a regional, industrial hub in cooperation with the World Bank, said Wazir.

 

He is implementing a genuine strategy on the ground in cooperation with the ministerial group for industrial development that is taking into account the needs of industries and the labor market. President Sisi was briefed on the strategy and endorsed it.

 

The new strategy for industry is aiming to scale up the contribution of the private sector in industry fields in the domestic product that hit 14 percent and seeks to increase it to 20 percent in 2030, in addition to upping the contribution of the green economy to Gross domestic product (GDP) to five percent in green industries, Wazir pointed out.

 

The industry and transport minister thanked president Sisi for his confidence in the government in the coming period to upgrade the Egyptian industry on all fronts.

 

He also appreciated efforts exerted by Prime Minister Mostafa Madbouly to form the ministerial group for industrial development to overcome any challenges facing the industry.