"Al-Wazir" and "Al-Mashat" Hold an Extensive Meeting to Follow Up on the National Industrial Development Strategy and Integration Mechanisms with Efforts by the World Bank in Coordination with National Bodies to Establish Mechanisms to Support the Sector

Minister of Planning, Economic Development, and International Cooperation:

 

Egypt has implemented strong infrastructure projects to grow the real economy sectors and transition to tradable sectors.

Continuous coordination with the Ministry of Industry to achieve integration and linkage between the urgent industrial development plan and the strategy prepared by the World Bank.

Several measures are being implemented as part of the National Structural Reform Program to increase the industrial sector’s contribution to GDP and diversify Egypt’s economic production structure.

 

Minister of Industry and Transport, Lieutenant General Eng. Kamel Al-Wazir:

The National Industrial Strategy aims to:

 

Increase the industrial sector’s contribution to GDP from 14% to 20% annually by 2030.

Raise the green economy’s contribution to GDP to 5% through green industries.

Create between 7 to 8 million job opportunities, develop skills, reduce unemployment, provide technical support to small factories, and integrate them into the formal economy.

Resolve the issues of distressed or halted factories.

 

 

H.E. Lieutenant General Eng. Kamel Al-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, and H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, held an extensive meeting at the Ministry of Planning’s headquarters to follow up on the National Industrial Development Strategy. This was in line with the directives of H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, and the government’s focus on this vital sector to advance Egyptian industry, enhance competitiveness, and increase exports.

At the beginning of the meeting, H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, welcomed H.E. Lieutenant General Eng. Kamel Al-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport.

H.E. Minister Al-Mashat affirmed that the purpose of the meeting was to discuss the developments of the National Industrial Development Strategy and its integration with the World Bank’s efforts in coordination with national agencies to establish clear mechanisms to support the sector.

H.E. Dr. Al-Mashat emphasized that the Ministry of Planning, Economic Development, and International Cooperation is working on developing a national narrative for economic development with clear targets, achieving integration and alignment between the government’s three-year plan and Egypt’s 2030 Vision. This aims to unify the targets in line with current economic developments. H.E. Dr. Al-Mashat added that the ministry is coordinating with the Ministry of Industry to ensure alignment and integration between the urgent industrial development plan and the industrial development strategy prepared by the World Bank.

The Minister of Planning, Economic Development, and International Cooperation reiterated the importance of the industrial sector, which is receiving significant attention from the state to enhance Egyptian exports and increase Egypt’s economic competitiveness.

H.E. Dr. Al-Mashat highlighted that advancing the industrial sector in Egypt is a cornerstone for achieving comprehensive and sustainable economic development.

Dr. Rania Al-Mashat pointed out that since 2014, Egypt has implemented major projects and made significant progress in developing infrastructure, including roads, transportation, and dry ports. She outlined that these projects will soon reflect positively on the development of various sectors, including industry, and help transition the Egyptian economy from non-tradable sectors to tradable ones, increasing productivity. This will contribute to higher employment rates and improved living standards for citizens.

H.E. Dr. Al-Mashat also reviewed the integration between the urgent industrial development plan, developed by the Ministry of Industry, and the industrial development and trade strategy prepared by the World Bank in coordination with national agencies. She confirmed that both strategies share common goals, including attracting investment to the industrial sector, increasing the local content of manufacturing operations, improving land allocation, enhancing exports, and facilitating trade processes, all of which would improve the competitiveness and quality of Egyptian products in international markets.

H.E. Minister Al-Mashat referred to the progress in the contribution of non-oil manufacturing industries to GDP by the end of the first quarter of the current fiscal year, in line with the reforms Egypt has implemented since last March. She explained that the National Structural Reform Program includes a set of measures aimed at diversifying the production structure of Egypt’s economy, with a focus on the real economy sectors. As part of this, various reforms will be carried out to enhance the private sector's contribution to industry, increase investment in the sector, and raise its share of GDP.

H.E. Lieutenant General Eng. Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, emphasized the importance of this meeting, which aims to follow up on the National Industrial Development Strategy and integrate it with efforts by the World Bank in coordination with national agencies to establish mechanisms to support the sector.

He pointed out that, in line with the directives of H.E. President Abdel Fattah El-Sisi, the National Industrial Strategy (2024-2030) has been developed, which aims to:

 

Increase the industrial sector’s contribution to GDP from 14% to 20% annually by 2030.

Raise the green economy’s contribution to GDP to 5% through green industries.

Provide between 7 to 8 million job opportunities, develop skills, and reduce unemployment.

Provide technical support to small factories and integrate them into the formal economy.

Address the problems of distressed and halted factories.

 

This strategy forms part of the urgent industrial development plan, which is a practical, executable step towards localizing industry, deepening domestic manufacturing, transforming Egypt into a regional industrial hub, transitioning to a green economy, and increasing the industrial sector’s contribution to GDP and exports, while raising the quality of Egyptian products to the highest standards and improving human resource efficiency.

The Minister of Industry also highlighted the importance of the infrastructure projects carried out by the state in various fields, including transportation, such as roads and bridges projects, Nile axes, railways, electric trains, dry ports, logistics zones, and giant seaport projects. These projects serve Egypt’s industrial sector and facilitate trade, supporting the national economy.

"Al-Wazir" and "Al-Mashat" Hold an Extensive Meeting to Follow Up on the National Industrial Development Strategy and Integration Mechanisms with Efforts by the World Bank in Coordination with National Bodies to Establish Mechanisms to Support the Sector