Cairo: H.E. Lieutenant General Eng. Kamel Al-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, and H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, convened an extensive meeting at the Ministry of Planning’s headquarters to address the National Industrial Development Strategy. The meeting aligns with directives from H.E. President Abdel Fattah El-Sisi, focusing on developing the Egyptian industrial sector to enhance competitiveness and boost exports.
According to State Information Service Egypt, Minister Al-Mashat emphasized the meeting’s objective to monitor the Strategy’s progress and its integration with the World Bank’s initiatives in coordination with national agencies. These efforts aim to establish mechanisms to support the sector. The Ministry of Planning is working on aligning the government’s three-year plan with Egypt’s 2030 Vision to unify economic development targets.
Minister Al-Mashat highlighted the significant attention the industrial sector receives from the state, aiming to enhance Egyptian exports and competitiveness. She noted that advancing the sector is essential for comprehensive and sustainable economic development. Since 2014, major infrastructure projects have been initiated, which will positively impact various sectors, including industry, and aid in transitioning the economy to tradable sectors, enhancing productivity.
Dr. Al-Mashat reviewed the integration between the urgent industrial development plan by the Ministry of Industry and the industrial development strategy prepared by the World Bank. Both strategies aim to attract investment, increase local manufacturing content, improve land allocation, enhance exports, and facilitate trade, improving Egyptian products’ competitiveness globally.
Minister Al-Mashat reported progress in the contribution of non-oil manufacturing industries to GDP, aligning with reforms since last March. The National Structural Reform Program seeks to diversify Egypt’s production structure, focusing on the real economy sectors, enhancing private sector contribution, and increasing investment in the industry.
Lieutenant General Eng. Kamel Al-Wazir highlighted the meeting’s importance in following up on the National Industrial Development Strategy and its integration with World Bank efforts. The National Industrial Strategy (2024-2030) aims to increase the industrial sector’s GDP contribution from 14% to 20% by 2030, elevate the green economy’s GDP contribution to 5%, create millions of jobs, and address issues faced by small and distressed factories.
He also emphasized infrastructure projects in transportation and logistics, which are crucial for supporting Egypt’s industrial sector and facilitating trade, thereby bolstering the national economy.