State Minister of Emigration and Egyptian Expatriates Affairs Nabila Makram asserted President Abdel Fattah El Sisi is paying great attention to supporting and strengthening national industry, depending more on local products and enhancing self-reliance.
The State is further backing the private sector to play its role in developing the economy in the coming period, Makram told MENA Friday in remarks on the occasion of “Egypt Can With Industry” conference, set to take place on Tuesday and Wednesday.
She said that this edition will convene at a very important timing amid global economic changes, which, she added are underscoring the necessity of searching for alternative solutions and backing the State’s strategy for strengtheing and deepening the national industry, in addition to transferrng IT and working with foreign companies that have business in Egypt in different fields in order to reduce imports.
State Minister of Emigration and Egyptian Expatriates Affairs Nabila Makram said the political leadership is always keen on offering opportunities for several global companies to invest in Egypt, which, she added is mainly contributing to providing more job opportunities and luring further investments to the Egyptian market.
Highlighting the recent legislative and economic reforms in Egypt, Makram stressed the need to capitalize on the national industrial investment roadmap.
Makran said the State is supporting the national industry through offering a package of incentives to foster the various manufacturing sectors and expand the industrial base as well as adopting initiatives for backing local products and stimulating exports.
All such initiatives contribute to upping sales of Egyptian products and growth rates of various industrial activities, according to her.
Industry is capable of leading progress in several national economic and strategic fields, particularly that Egypt has great potentials and many elements of success including skilful workers, plenty of raw materials, in addition to a good infrastructure that is getting stronger by development projects launched by President Abdel Fattah El Sisi in the past few years in addition to an upgraded and expanded network of roads and axes stretching to all parts of the country, the official pointed out.
Makram referred to Egyptian endeavors to tap new markets abroad and maximize cooperation with brothers in the African continent, in addition to promoting high quality Egyptian products and expanding trade exchange.
“Egypt Can With Industry” conference will offer a chance for probing industrial activities between Egypt and fellow African countries in a move meant to promote and bolster industrial and trade exchange on the continent, she went on to say.
President Abdel Fattah El Sisi ordered allocating special sessions in the conference to discuss ways of fostering cooperation with all African markets.
For the first time ever, the conference will be attended by African brothers and representatives from several active international institutions, Makram noted.
In this regard, she said the conference is set to tackle industrial investment and mechanisms for supporting and developing industrial communities in Egypt to achieve sustainable development by linking capital market with industrial investment and finding mechanisms for encouraging investments in the capital market and financial industry, with special focus on green industry.
The conference will also take up ways of promoting industrial investments between Egypt and fellow African countries to achieve common interests, according to her.
Makram underlined the importance of this edition, given the fact that “Egypt Can With Industry” conferences go in tandem with the Egyptian State’s vision on paying a greater attention to the industry file and comes in implementation of presidential directives about backing the State’s strategy for industrial localization.
The first “Egypt Can With Industry” conference was launched in December 2016.
Shifting to green industry, Minister Makram said Egypt seeks to become a hub for producing future energy represented in green hydrogen and green ammonia.
The government had signed several memorandums of understanding with major global companies in this field, which pledged to pump investments to help Egypt become a hub for green hydrogen production, Makram further said.
The official pointed out that Egypt is making all required arrangements for hosting the 27th session of the Conference of the Parties (COP27) to the UN Framework Climate Change Convention, noting that the country is very much interested in capitalizing on experiences and efforts exerted by Egyptian scholars abroad in the clean energy file, as a pressing issue at present, taking into consideration the sharp rise in oil and gas prices.
She said the conference will probe the green industry file and ways of manufacturing eco-friendly vehicles.
The State is laying down action plans to promote green industrial development efforts by improving efficiency of industrial resources in order to increase production, economic efficiency and the competitive edge of products, she went on to say.
Speaking about Egypt’s achievements in the industry sector, Makram asserted President Sisi’s directions about enhancing efforts aimed at strengthening local industry and localizing IT methods to meet needs of the market amid the growing requirements of national projects in all fields and to bridge the gap between exports and imports and achieve self-sufficiency in local products, thus decreasing imports.
The state minister commended ongoing cooperation between Egyptian experts in the country and abroad to review the best ways of developing and upgrading all industrial activities in the light of active developmental and investment needs nationwide.
“National industry is the locomotive of economic development,” she expounded.
The government has been exerting strenuous and painstaking efforts to strengthen industry and support industrial zones and to invite Egyptian investors abroad to visit several industrial zones in the country and get acquainted with industrial activities and investment chances to tap foreign markets, in addition to helping them learn more about the industrial investment roadmap adopted by the State, Makram further pointed out.
Participant in this current edition of the conference will tackle all studies conducted to transfer advanced industrial IT in fields of priority in partnership with major global companies to ensure sustainability and stability of the different industries in Egypt, Makram added.
Source: State Information Service Egypt