Cairo: Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir asserted on Monday that the Egyptian government is focusing on transforming the country into a regional, industrial hub. This initiative aligns with President Abdel Fattah El Sisi’s directives. The announcement was made during a session titled “Investment in Industry: Chances of Integration and Growth,” held on the sidelines of the International Annual Industry Conference and Exhibition (IMCE).

According to State Information Service Egypt, the Ministry of Industry has crafted a strategic plan to achieve this transformation, in collaboration with the World Bank. Wazir emphasized that the strategy is being implemented in partnership with the ministerial group for industrial development, with a focus on addressing the needs of various industries and the labor market. President Sisi has been briefed on and has endorsed this strategic vision.

The strategy aims to boost the private sector’s contribution t
o the industrial segment of Egypt’s domestic product, which currently stands at 14%, with a target to increase this figure to 20% by 2030. Additionally, the plan seeks to enhance the green economy’s contribution to the Gross Domestic Product (GDP) to 5% through green industries. Wazir highlighted these targets as key components of the new industrial strategy.

Minister Wazir expressed gratitude to President Sisi for his confidence in the government’s ability to elevate Egyptian industry in the upcoming period. He also acknowledged the efforts of Prime Minister Moustafa Madbouli in forming the ministerial group for industrial development, which aims to tackle any challenges that may hinder progress in the industry sector.