The United Bank has announced the successful revival of 25 troubled factories in industries including agriculture, fertilisers, animal feed, and glass manufacturing, after years of inactivity. The move comes as part of the Egyptian government and Central Bank’s initiative to support national industry and reinvigorate the domestic economy.
Tarek Fayed, CEO and Managing Director of the United Bank, said that tackling stalled factories remains a top national priority. He explained that the challenges facing these entities go beyond financing, encompassing structural, administrative, and technological obstacles.
He added that the financial and banking sector plays a pivotal role in offering innovative financing solutions, restructuring programmes, and governance frameworks to help factories resume operations with greater efficiency.
Fayed emphasised that restoring production capacity demonstrates the strength of cooperation between the state, the banking sector, and the private sector. He underlined that returning stalled factories to economic activity not only protects thousands of jobs but also enhances market competitiveness and accelerates industrial development in line with Egypt’s current needs.
He further noted that addressing industrial distress through digital channels is a strategic step that will place the Egyptian economy on a faster trajectory towards growth and global integration—particularly through the application of governance standards, environmental sustainability, and a shift towards a green economy.
Farag Abdel Hamid, Deputy Managing Director of the United Bank, explained that reviving stalled factories is not simply about rescuing businesses from closure but, more importantly, about safeguarding employment, stabilising supply chains, and boosting the competitiveness of Egyptian industry at the local, regional, and international levels.
He added that the United Bank has implemented a comprehensive action plan that combines financing solutions and debt rescheduling to overcome production, marketing, and technical challenges with technical and engineering support to modernise production lines and improve efficiency. This has gone hand in hand with efforts to resolve legal and ownership disputes and to open new avenues for partnerships with local and foreign investors to support restructuring.
Abdel Hamid highlighted that these measures have already delivered results, enabling many factories to restore production capacity, improve financial and technical performance, and re-employ large numbers of workers, particularly in labour-intensive sectors.
He stressed that investment in stalled factories is also an investment in labour market stability and the competitiveness of the national economy, pointing out that the initiative restores confidence among citizens and strengthens Egypt’s position on the global investment map as a rising industrial hub.
The United Bank’s continued success in tackling this challenge underscores that reviving troubled factories is essential to supporting national industry, expanding Egypt’s export base, and reinforcing the country’s standing as a regional industrial power—all while linking industrial recovery to environmental responsibility and the green transition to ensure sustainability and stronger global competitiveness.
