File – Industry Minister Tarek Kabil File – Industry Minister Tarek Kabil

Egypt targets 3.7% industrial growth in 2017/18

Wed, Jan. 31, 2018
CAIRO – 31 January 2018: Ministry of Trade and Foreign Industry targets a 3.7 percent growth in the industrial section in fiscal year 2017/2018, compared to 2.8 percent in 2016/2017.

The value of total investments in the manufacturing sector- excluding petroleum refining- is worth LE 60 billion, according to the investment plan of the ministry.

The private sector will execute 88 percent of the manufacturing sector's investments.
Upper Egypt took the lion’s share of the industrial development projects in various fields under the current administration, after years of neglect, Deputy Head of the Federation of Egyptian Industries’ Building Materials Chamber Kamal el-Desouki said in a statement on Tuesday.

Minister of Industry and Foreign Trade Tarek Kabil said earlier that the government targets an 8 percent growth in the industrial sector this year, to reach 21 percent by 2020.

The volume of industrial production hiked 11.7 percent in the first quarter (Q1) of 2017, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in a December report.

The investment’s growth rate in the industrial sector hiked up by 30 percent in 2017, according to the Federation of Egyptian Industries (FEI).
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