I wonder if the government has reached a point in the issue of industrial development, and has there really been comprehensive development in just 130 days, and what is the story of the statements of the Minister of Industry and Transport, Lieutenant General Kamel Al-Wazir, about the plan for the coming years? We will tell you all the details in this video.
It is clear that Lieutenant General Kamel Al-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, intends to make the industrial sector one of the most important sectors that will lead Egypt to development and sustainable development. This means creating a comprehensive renaissance that began with solving the problems of closed and faltering factories and will end with the invasion of Egyptian industrial products into global markets with a sweep. also.
For this reason, we will briefly tell you the position of the urgent plan for industrial development, which occurred in only 130 days, as the minister said.
This plan began with assignments from President Abdel Fattah El-Sisi, the President of the Republic, to work immediately to remove all challenges facing the various industrial sectors, and also to localize and encourage local industry in partnership with the private sector, so that we can attract more foreign and Arab investments, and also transform Egypt into a regional industrial center. .
This file actually witnessed the development of the national strategy for industry, which aims to increase the contribution of the industrial sector to the national product from 14% to 20% annually by 2030, and also to raise the percentage of the green economy’s contribution to the gross domestic product to 5% in green industries, and not only that. This also includes employing the workforce and increasing job opportunities in the industrial sector from 3.5 million workers to 7 million job opportunities, developing their skills and reducing unemployment.
In addition to all of this, technical support is provided to small factories and their integration into the formal economy, and the problems of faltering factories that have stopped producing are solved. Indeed, this plan was built on real and realistic foundations that were based on the needs of the local market for industrial products, national projects, and the volume of materials and raw materials available. in the Egyptian market, the production capabilities of the currently existing Egyptian factories, the number and types of factories in each specialty, whether in the private or governmental sector, and the specialized research and technological centers, whether affiliated with ministries or universities, and their ability to Innovation and industry development service in a scientific manner.
Also, during this period, the Ministry of Industry is working on a plan to transform Egypt into a regional industrial center, and this plan was based on 7 main axes, which are deepening the industry by establishing new factories to provide part of the needs of the local market and imported production requirements with high quality and competitive prices for the importer, and this By attracting investors (Egyptians / Arabs / foreigners) and increasing the industrial base for the purpose of increasing exports, especially industries that depend on raw materials and raw materials that are already present in the local market or that have available technology. Its production, such as iron, aluminum, etc., so that the immediate restart and assistance of factories that were stopped or closed were started.
There will also be improvement in the quality of Egyptian products to compete in the local market or export to the global market, and employment for production, and all of this contributes to reducing unemployment rates and raising the standard of living for Egyptian families.
In addition to all of this, a joint committee has been formed to inspect and periodically inspect industrial facilities, and a complaints system has been put in place to receive investor complaints and resolve them immediately and quickly.
Other than that, the Ministry of Industry launched the Industry Financing Initiative at a rate of 15%, and the initiative was issued in 2023 with an interest rate of 11%, and after that it was amended to have an interest rate of 15% for purchasing machinery, equipment, raw materials, production requirements, or raising working capital.
Also, lands and facilities belonging to state agencies that can be used to establish industrial activities have been identified, and expansions have also been established in promising industrial zones in light of the increasing demand from investors, such as the industrial zone in Kom Abu Radi in Beni Suef Governorate and other governorates.
Not only that, the facilitations and incentives provided by the Ministry of Petroleum and Mineral Resources to support the industrial sector were also approved, and a factory was also established in Egypt to produce solar energy cell components with the help of a foreign partner.
All of this is in addition to many other projects, such as the Kraft Heinz factory for manufacturing food products, the factory of the Al-Rashidi Al-Mizan Company for Food Industries, the factory of the Polish company Padma for manufacturing furniture in New Alamein City, and other projects.
Which will provide millions of job opportunities for young people, and will move Egypt to a completely different place.
