Industry Localization
Madbouly said the state is committed to its plans aimed at increasing investments, particularly in the Suez Canal Economic Zone (SCZONE), which offers a range of incentives for diverse projects.
As he welcomed South Korean President Lee Jae Myung on Thursday, El-Sisi highlighted the investment guarantees, incentives, and competitive advantages offered by the Egyptian market.
He underscored Egypt's strategic geographical location and significant advancements in infrastructure over the past decade, which include improvements in roads, railways, ports, and airports.
Production in the complex is set to commence in the second quarter of 2025
Egyptian President Abdel Fattah El-Sisi has urged expanding exploration of more fields of industry localization especially with regard to the infrastructure projects given the huge and numerous projects nationwide.
Sisi highlighted the need to raise industry localization to develop the industrial sector in Egypt, provide more job opportunities and increase the domestic product, the Presidency said in a statement.
