The Egyptian industrial sector witnessed a great boom from FY2013/2014 to FY2019/20, recording 163.8% in growth at current prices, bringing the value of industrial productions up to EGP 942bn, according to CEO of the Industrial Modernisation Centre (IMC) Mohamed Abdel Karim.
He noted that the industrial sector also witnessed a surge in the volume of investments in the manufacturing sector, doubling seven times from EGP 6.1bn in FY2013/14 to EGP 49bn in FY2019/20.
At the level of attracting local and foreign investments to the industrial sector, Abdel Karim highlighted that the Ministry of Trade and Industry is working through its various bodies to promote local industrialisation through several stimulating programmes and policies aiming to increase the competitiveness of local products and their export opportunities.
These programmes include raising the efficiency of the system of the Export Development Programme by expanding the base of products benefiting from it with a focus on industrial sectors with high added value as well as focusing on new export markets and promoting local companies by helping them to participate in international exhibitions and supporting their integration into the global value chain, he disclosed.
The IMC’s CEO added that 11 integrated industrial complexes were recently developed between large factories on the one hand and small factories on the other hand. Accordingly, they contributed to encouraging local and foreign investments towards complementary industries and increasing the role of industrial developers by allowing 12 developers to initiate utilities and services, equip and sell industrial lands, and complete industrial networking between local suppliers and importers to encourage dependence on local industry to provide production requirements.
The ministry also prepared an initial list that includes 131 products targeted to provide local alternatives according to the needs of the local market and the ability of the national industry to provide them.
Furthermore, the ministry — through the IMC — provided several services that aim to raise the competitive capabilities of Egyptian industrial companies. These services include industrial training component programmes, sustainable development programmes, digital transformation and technological support programmes, increasing competitiveness programmes, financial services and access to finances programmes, innovation and entrepreneurship programmes, a national programme for deepening domestic manufacturing, a green economy programme, and a productivity improvement programme.