Cairo: Minister of Industry, Khaled Hashem, held discussions on Thursday with World Bank (WB) Regional Director for Egypt, Yemen and Djibouti, Stefan Gimbert, and International Finance Corporation (IFC) Egypt Country Manager, Saad Sabra, to explore ways to support industrial development and ongoing projects. The meeting reviewed financing programs for micro, small, and medium-sized enterprises, technical support initiatives to reduce carbon emissions, and efforts to strengthen pharmaceutical manufacturing in Africa.

According to State Information Service Egypt, Hashem stated that the ministry is reassessing the national industrial development strategy to align with global and regional changes. The plans are set to concentrate on a limited number of priority industries and their value chains, aiming to restore Egypt’s position in global manufacturing. He emphasized the development of a comprehensive industrial data system intended to support decision-making and provide investors with key information on land allocation, policies, labor, energy use, and technology.

The minister further mentioned that the government is working on launching industrial investment funds to channel financing into promising projects and boost production capacity. Additionally, there are initiatives to promote ‘productive villages’ to support balanced regional development and reduce migration pressures. Gimbert reaffirmed the World Bank’s commitment to providing technical support to strengthen the private sector’s role in Egypt’s industrial growth.