Engineer Ahmed Samir, Minister of Trade and Industry, confirmed that the development of the industrial sector is the Egyptian state’s top priority during the current stage, as the Ministry works to provide all aspects of support and assistance to the sector, as well as possible facilities, qualified workers, a suitable environment and appropriate infrastructure, in addition to overcoming all obstacles to the sector. Local and foreign investors to reach a sustainable industry with high competitive quality, noting that the Ministry sought, as part of the government’s efforts, to provide investment incentive packages to support strategic investment projects, including tax exemptions for a period of up to 10 years, providing land to establish investment projects, and facilitating the issuance of the necessary licenses.
This came in the context of the minister’s speech that he delivered during the opening activities of the tenth economic news conference, entitled “Challenges and Priorities,” in the presence of Dr. Mohamed Maait, Minister of Finance, Dr. Mahmoud Esmat, Minister of Business Sector, and Dr. Soha El-Gendy, Minister of State for Immigration and Social Affairs. Egyptians, Dr. Ashraf Sobhi, Minister of Youth and Sports, Dr. Reda Hegazy, Minister of Education and Technical Education, Engineer Abdel-Sadiq El-Shorbagy, Chairman of the National Press Authority, and Mr. Ahmed Galal, Chairman of the Board of Directors of Akhbar Al-Youm Foundation, in addition to a large number of researchers, economists and men. Business, members of the House and Senate, and representatives of business organizations.
The Minister pointed out the importance of the role of the industrial sector in the Egyptian economic system, as the political leadership and government give it the necessary attention and support to achieve sustainable development, as it is the engine of economic development and the main engine for achieving economic security, especially in light of the successive economic crises starting with the Covid-19 crisis, the Russian-Ukrainian crisis, and the unstable conditions. In the region.
Samir explained that the Ministry is currently working on developing an integrated national strategy for industrial development in cooperation with various ministries and concerned authorities to support the local industry in facing successive local and global challenges, as well as achieving a high industrial growth rate and increasing the industry’s contribution to the gross domestic product, indicating that the Ministry has identified a list It includes a number of investment opportunities to manufacture production requirements locally, which contributes to deepening the national industry and providing the necessary needs for the local market and exporting to foreign markets.
The Minister pointed out the Ministry’s keenness to achieve the state’s goals aimed at increasing Egyptian exports to various global markets to reach $100 billion annually by developing the Egyptian product, increasing its value, and opening new markets for Egyptian products, in addition to providing all aspects of support to exporters.
Samir noted that despite the global crises and their economic repercussions, the Egyptian economy was able to achieve positive indicators, the most important of which is achieving a total industrial output of 1.2 trillion pounds for the year 2022-2023, with a growth rate of 9.57% for manufacturing industries, and allocating more than 1,370 industrial plots of land with a total area of about 6 million square meters. square, and the completion of the allocation and operation of industrial complexes, in addition to achieving non-oil exports of 35 billion and 631 million dollars during the year 2023, and a decrease in Egyptian imports to 73 billion dollars, a decrease of 14% from 2022, which led to a decrease in the trade balance deficit by about 11 billion dollars. It recorded about $37 billion, compared to $48 billion during 2022.
The minister added that these positive indicators are due to the stability of global demand for Egyptian products in various production sectors, the preservation of export markets and the opening of new markets, in addition to the high competitiveness of the Egyptian product in foreign markets, and also to many measures taken by the Egyptian government to encourage manufacturers to manufacture under the slogan “With all Pride made in Egypt.
