Egypt aims to become regional industrial hub: PM – Egypt Today

  • Date: 19-May-2024
  • Source: Egypt Today
  • Sector:Industrial
  • Country:Egypt
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Egypt aims to become regional industrial hub: PM – Egypt Today





CAIRO – 18 May 2024: Prime Minister Mostafa Madbouly toured the Kom Abu Radi and Bayad Al-Arab industrial zones in Beni Suef. Following this, he visited the Technology Village to engage with companies in the outsourcing, communications, and IT sectors.

 

Madbouly highlighted the government's strategic focus on expanding Egypt's industrial sector and positioning the country as a regional industrial hub, during a televised address on his visit to Beni Suef Governorate.

 

The Prime Minister emphasized the importance of attracting international brands to invest in Egypt to transform it into an industrial hub for the entire region. He underscored the significant role of the communications and information technology sector, advocating for increased youth participation to boost annual growth.

 

Madbouly reiterated that this visit aligns with Egypt Vision 2030, prioritizing four key economic sectors: industry, agriculture, communications and information technology, and tourism.

 

Highlighting the government's efforts to foster industrial growth, the Prime Minister mentioned regular visits to private sector factories and meetings with industry leaders to strategize on boosting exports, aiming to surpass $145 billion by 2030. He outlined a new system for reimbursing export burdens and incentives for manufacturers, stressing the need to increase the local component in production to double annually over the next