Cairo, Egypt: The Prime Minister discusses with heads of industrial chambers opportunities to enhance the role of the private sector and localize industry.
Madbouly said, “We are convinced that working to develop the industry is the only way to bring about real economic growth,” adding, “We have a list of 152 products that are important and priority that we look forward to domesticate the industry through. There’s a big opportunity ahead for industrial investors to tap into this list.”
Today, Dr Mustafa Madbouly, Prime Minister, met at the government headquarters in the new administrative capital, with the heads of industrial chambers, in the presence of Engineer Ahmed Samir, Minister of Trade and Industry, to discuss opportunities to enhance the role of the private sector and localize industry.
Meeting periodically with heads of industrial chambers, from the outset of the state’s support for the industry, and its ongoing efforts to demean any obstacles or challenges to drive work in different sectors, the Prime Minister emphasized that working to develop industry is the only way to bring about true economic growth.
The Prime Minister confirmed that the government has taken extensive steps in the past period to pay the national industry sector, most importantly in the area of paying arrears due to sources, amounting to around 30 billion pounds this year, as well as the formation of a central committee for the provision and allocation of industrial land, in addition to granting many facilities to industry in the investment law. Given that almost all amendments to the Investment Act serve the industry sector, the complete readiness to make any new decisions certainly serve this important sector.
Madbouly pointed out that the government is following what some are proposing about the necessity of giving the private sector full opportunity and not interfering the state, certain that the state is fully prepared for that, in order to regulate the market, pointing out that the challenges and difficult conditions that have accompanied the previous years, of the Corona pandemic, the Russian-Ukraine crisis, and before them instability, are the ones The state has pushed to intervene in some activities to create jobs within the size of the then private sector to increase its investments, saying: “We don’t blame him for that, and we are now fully prepared to give the private sector full opportunity.”
The Prime Minister clarified that the government currently has a list of 152 products, of national importance and priority, and is looking to localize the industry through them, considering that this provides a great opportunity for industrial investors to tap into this list, contribute to domesticating the industry of these goods and products, and thereby reducing the import bill.
On his part, Engineer Ahmed Samir, the Minister of Trade and Industry, explained the details of the list of 152 products that were restricted to localize the industry, indicating that the head of the Federation of Industries was contacted on this matter, and the trade representation is working to promote these industrial opportunities, the government is certainly ready to hear any suggestions from The side of the industrial investors.
In their turn, the heads of the industrial chambers emphasized during the meeting the need to focus on what we have raw materials as the basis for every industry, and they gave some examples of a number of industries where raw materials are available, and they also appreciated the government’s payment of property tax, and demanded it to be abolished in the industry sector publicly, not Stopping it off, as industry heads also offered some proposals to increase exports to rebuilding countries in particular.
The Chairman of the Chamber emphasized that they have wide export opportunities, not only in African markets but also in European markets. During the meeting, their various activities, efforts to provide different products in the markets were presented and their efforts to increase export opportunities were also reviewed.
In this regard, Dr Mustafa Madbouly confirmed the government’s readiness to provide ships for exporting any products, as well as warehouses in a number of countries on the African continent, and assistance in this file, indicating that the Minister of Transport has repeatedly announced readiness for that.
The meeting also reviewed the proposals of the Chamber of Medicine to undermine the challenges facing the Egyptian pharmaceutical sector, where the chairman of the chamber presented a number of opportunities that could be used to finance and support pharmaceutical research, international accreditation procedures, and registration procedures in export-targeted countries, alongside opportunities Digging the pharmaceutical industry locally into bio-cons, children’s dairy, cancer drugs and everything imported from products and pharmaceuticals right now.
