The Egyptian government and the German company Siemens signed the executive plan for a joint memorandum of understanding (MoU) between the ministries of trade and industry and education with Siemens company in order to improve the competitiveness of the Egyptian industry.

The Trade and Industry Minister’s assistant, Ahmed Taha, said that the signing took place during the ministry’s delegation visit to Germany which recently concluded, and lasted for a week.

He noted that the executive plan focuses on ways of implementing the five main axes of the MoU, including infrastructure development and digital transformation of the industrial zones.

The axes also include providing support to factories in terms of energy efficiency, and automation solutions, as well as developing local machinery manufacturers, raising training capacities and developing technical and vocational education, in addition to supporting and providing financing services for the industry.

The aim of the visit was to visit several German cities to identify on the ground the implementation mechanisms of the MoU, through visiting many entities that will help in its execution.

The delegation visit included representatives from the Industrial Modernization Centre, the Industrial Development Authority and Industrial Council for Technology and Innovation centers.

Taha stated that during the visit it was agreed to sign the executive plan of the MoU after intensive discussions with Siemens International officials.