Egypt’s President Abdel Fattah Al-Sisi met with Prime Minister Moustafa Madbouly and other top officials on Saturday to review the status of the investment plan for transport sector projects nationwide.
Spokesman for the Egyptian Presidency Ahmed Fahmy said the meeting was held at the Presidential Palace in Cairo and discussed the efforts to maintain the national road network, develop the railway system, and establish the fourth line of the metro in Greater Cairo.
Al-Sisi was also briefed on the ongoing efforts to localize the transport and railway industry in Egypt in partnership with the private sector. Minister of Transport Kamel El-Wazir said Egypt is on the way to not importing railway cars or buses from abroad again, as they will be manufactured in Egypt by Egyptian hands.
The president gave directives to enhance the comprehensive steps of the state towards the localization of industry and the deepening of local manufacturing, in partnership and cooperation with the private sector and major leading companies in the world.
He also ordered the streamlining of measures to establish more factories for the manufacture of related components in Egypt to help achieve self-sufficiency locally and save foreign currency.
The meeting comes as Egypt is facing a number of economic challenges, including high inflation and a depreciating currency. The government has been working to diversify the economy and reduce its reliance on foreign imports. The localization of the transport and railway industry is seen as a key part of this effort.
In addition to Madbouly, the meeting was attended by Minister of Planning and Economic Development Hala El-Said, Minister of Finance Mohamed Maait, and Minister of Transport Kamel El-Wazir.
