Industry in Egypt is experiencing steady growth, and Prime Minister Mostafa Madbouly highlights the importance of developing an integrated vision for the local production of manufacturing inputs. During a meeting with several representatives of the industrial sector, Madbouly stressed the need to coordinate efforts between the Ministry of Trade and Industry, business federations and export councils.
The aim is to increase Egyptian exports to reach a value of $100 billion, despite current economic challenges. Madbouly highlighted the state’s commitment to supporting Egyptian exports and called for continued evaluation and review of the export support program to provide more support to exporters.
Among the challenges facing the export industry are current conditions in the Red Sea region which are affecting shipping, logistics and storage. It is therefore crucial to establish suitable warehouses in logistics zones to facilitate increased exports to target countries.
The African market has been identified as a promising destination for Egyptian exports, particularly in the outsourcing and information technology sectors. It is therefore essential to put in place a monetary policy favorable to exporters.
Madbouly also emphasizes the importance of meeting the needs of the local market for production inputs, by attracting investments in local manufacturing rather than large-scale them. This will reduce the import bill and promote the growth of local industry.
Participants in the meeting highlighted the existence of numerous opportunities to increase Egyptian exports, especially by improving the value of products in the international market. Particular attention must therefore be paid to the local production of manufacturing inputs.
In conclusion, the Egyptian government is fully committed to supporting the country’s export industry. Local manufacturing of production inputs is essential to reduce dependence on imports and increase the competitiveness of Egyptian exports. This will require close coordination between different stakeholders and continued support from the state.