Egypt’s PM to Inspect Several Factories in 10th of Ramadan City on Saturday

CAIRO – 18 April 2025 – Egyptian Prime Minister Mostafa Madbouly is scheduled to inspect several factories in 10th of Ramadan City this Saturday, accompanied by a number of ministers, the Cabinet announced in a statement on Friday.

The visit comes as part of the government’s efforts to support local industry and manufacturing. Prime Minister Madbouly recently launched the first phase of a EGP-30-billion initiative aimed at financing the purchase of new machinery and production lines for factories.

He noted that seven key industrial sectors have been selected to benefit from the initiative: pharmaceuticals, engineering, food, ready-made garments and textiles, chemical industries, mining, and building materials.

The Prime Minister further explained that the initiative is being implemented at a reduced interest rate of 15%, with a planned decrease of approximately 2%. The goal is to boost local content and enhance industrial growth within these vital sectors.