Egypt’s Minister of State for Military Production, Mohamed Salah, presented the final accounts for affiliated companies for the fiscal year 2023/24 to the Planning and Budget Committee of the House of Representatives.
During the presentation, Minister Salah highlighted the “significant development” in the performance of military production companies, stating that further improvements were targeted.
A statement from the Ministry of Military Production noted that companies achieved a 144% increase in revenues, representing a growth rate of 44% compared to the previous year.
The presentation, led by Fakhri El-Fiqi, Chair of the Planning and Budget Committee, was attended by Engineer Emil Helmy Elias, Deputy Chair and Managing Director of the National Organisation for Military Production, and MPs Mostafa Salem, Yasser Omar, and Abdel Moneim Imam.
Minister Salah outlined several factors contributing to the improved performance, including the development of new military products, the implementation of nine military projects, and the upgrade of production lines in a number of military production companies.
He also noted the launch of mobile outlets offering competitive prices to ease the burden on citizens, as well as contributions to national and development projects by utilising surplus production capacity and engaging with the private sector.
Furthermore, companies participated in projects for recycling and converting waste into organic fertiliser, electrical and thermal energy. The Ministry of Military Production has focused on implementing measures to strengthen its role in advancing industry, in line with President Abdel Fattah Al-Sisi’s directives to optimise the use of available national resources.
Minister Salah said that the discussions on the final accounts reflected “sound democratic practice,” allowing for performance evaluation and informed decision-making. He emphasised the Ministry of Military Production’s “vital role” in supporting the armed forces, police, and civilian society by utilising surplus production capacity.
The discussion also covered future plans for each company and unit affiliated with the Ministry, as well as strategies for achieving them, in line with directives to expand programmes for localising modern technologies and providing new products.
The proposed budget for the current year, 2024/2025, aims to further increase participation in development projects across various sectors and to expand cooperation with the private sector (both local and international). The goal is to meet the needs of the armed forces and police for weapons, ammunition, and equipment, while also improving the quality of services provided to citizens through various state sectors. Minister Salah stressed the need for cooperation between relevant bodies and ministries to ensure the achievement of financial and technical objectives.
Minister Salah praised the role of the House of Representatives and the Planning and Budget Committee in supporting the Ministry’s efforts, stating that “fruitful cooperation” between government entities strengthens the Ministry’s ability to achieve its goals in developing national industry and meeting market needs.
Members of the Planning and Budget Committee expressed their appreciation for the effective role played by the Ministry of Military Production in promoting local production and providing job opportunities. They acknowledged the Ministry’s manufacturing and technical capabilities, as well as its “vital and effective role” in deepening and localising modern technologies across various production sectors, recognising it as a key industrial arm in both the military and civilian fields.
