In a statement on Tuesday, Minister of Trade and Industry Nevine Gamea said that the country’s industrial production value reached about EGP 982bn in 2021, and sector investment recorded about EGP 49bn in FY2020/21, representing about 6% of total public investment.
The minister added that the industrial sector contributes 11.7% to GDP and is expected to reach 15% and absorb about 28.2% of the total Egyptian labour force in the coming period.
Furthermore, Gamea noted that the ministry has prepared a list of 100 incentives to promote Egyptian industry and attract investors to invest in various industrial sectors, including 58 short-term, 33 medium-term, and nine long-term projects.
The government has been also making a point of paying exporters’ dues with a total disbursement amounting to EGP 54.6bn since 2014.
The minister also said that her ministry has established 12 industrial zones spanning a total area of 42m sqm through eight industrial developers from the private sector.
Additionally, Gamea pointed out that licenses have also been granted for the establishment and expansion of 6,223 industrial facilities at an investment cost of up to $225bn. The government also issued Law No.15 of 2017, which facilitated procedures for granting licenses, thereby allowing the government to grant 61,253 operation licenses, 4,946 building permits, and 40,087 industrial certificates.