Egypt’s President Abdel Fattah Al-Sisi held a meeting on Sunday with Prime Minister Mostafa Madbouly to discuss several key economic and service initiatives. The primary focus was on intensifying efforts to enhance the national industry and increase the value added by Egyptian industries.
During the meeting, President Al-Sisi stressed the state’s commitment to supporting and encouraging the private sector, both Egyptian and foreign, to expand industrial investments and improve the volume and quality of Egyptian industrial production.
The presidential spokesperson stated that President Al-Sisi also reviewed updates on the development of various service sectors that directly impact citizens’ lives, with particular emphasis on health, education, and tourism. Additionally, strategies to curb inflation and ensure the availability of goods in the markets were discussed.
The presidency has launched the National Initiative for Developing Egyptian Industry, known as “Ebda” (Start). It has made significant strides in establishing new industries in Egypt for the first time. The initiative aims to achieve its goals of localising modern industries to reduce the import bill and attract more foreign investments. “Ebda” is focused on narrowing the import gap and preparing the workforce to meet market needs.
One of the initiative’s notable achievements is the establishment of the “Hawa” factory for light transport engines in collaboration with the “Hayah Kareema” (Decent Life) initiative. This project involves the localisation of diesel engines used in motorcycles, as well as chain and gear lines, chassis, and assembly lines.
Additionally, the “Ebda”industry initiative has successfully localised the manufacturing of silicon in the petrochemical sector, central air conditioning and refrigeration equipment, raw pharmaceutical materials, and specialised sponges for mattresses.
Through its major partnership focus, “Ebda” aims to form alliances with leading manufacturers to increase the percentage of industrial investments, encourage feeder industries, and enhance their ability to expand and raise the percentage of local components. The initiative seeks to achieve integration among small, medium, and large industries. Some projects within the initiative are intended to export their entire production, based on studies of standard specifications for export markets.
