Egypt aims to boost local manufacturing in FY 22/2023 plan

Dr. Hala El-Said, Minister of Planning and Economic Development, reviewed the plan for the year 22/2023 for the manufacturing sector, electricity, and the field of environmental improvement.
 This came during her delivery of the statement of the draft sustainable development plan for the fiscal year 22/2023 and the basic features of the plan document before the House of Representatives today, in the presence of the Advisor, Dr. Hanafi Jabali, Speaker of Parliament, and distinguished members of Parliament.
Dr. Hala El-Said indicated that the manufacturing sector is targeted to achieve a real growth rate of 7.7% during the year of the plan, which would raise the contribution rate of industrial output to about 21% of the GDP.
 Investments directed to the manufacturing sector are estimated at EGP 93.5 billion, an increase of 6% over the investments of the previous year. About 80% of them belong to non-petroleum industries.
El-Said explained that the sector's development strategy focuses on deepening local manufacturing to reduce dependence on imported components whose supplies are affected by the conditions of international crises, by reviewing the import lists of these intermediate components and expanding their production locally, and linking with international supply chains.
To improve the sector’s competitiveness, El-Said added that the plan aims to improve the quality of industrial products by developing a system of specifications, quality, inspection, and tests, qualifying facilities to obtain quality certificates, in addition to developing the skills of workers by developing the industrial training system.

El-Said clarified that to stimulate industrial exports and increase them by no less than 15% to reach $30 billion during the year 22/2023, the plan is keen to continue the export support program for companies within the framework of the immediate payment initiative, with the expansion of the umbrella of burden response by adding commodity groups and new companies.
About the electricity sector, El-Said indicated that the plan aims to direct investments of EGP 29.3 billion to implement several strategic projects to expand the national electricity network and secure electrical nutrition for economic development projects in East Oweinat, the North Coast, Sinai, land reclamation areas in Toshka, the New Delta and the Monorail projects (the Administrative Capital and Sixth of October). ).


El-Said emphasized that the 2023/22 plan highlights the importance of Egypt as a regional energy center within the framework of the (Euro-Africa) project, which links the electricity networks between Egypt, Greece, and Cyprus, and from it to the rest of the European countries with a capacity of 2000 megawatts.

In the field of environmental improvement, El-Said explained that the plan is keen to integrate environmental sustainability into development plans. It is targeted that the cost of green projects in the (22/2023) plan will reach EGP 336 billion in many sectors, including transportation (300 billion) and electricity (2.4 billion), local development (2.8 billion), irrigation (26.4 billion), and housing (4.5 billion), and the percentage of green public investments are targeted to reach 40% of all public investments.