Manufacturing
Participants in the National Dialogue's manufacturing session stipulated Tuesday the necessity of boosting the volume of exports, making commercial attaches more effective, and setting a national strategy to develop the sector.
The industrial sector in Egypt is divided into non-petroleum industries (80 percent), and petroleum industries (20 percent).
The General Authority for Investment and Free Zones in collaboration with the Administrative Authority with Jurisdiction is offering 600 industrial land plots for investors.
The report noted that the sector's shares in the GDP and non-oil exports are 16 percent, and 85 percent, respectively.
The two factories are said to produce electric and signaling systems and manufacturing parts for metro, highway rails, monorails, and railways. Their strategic location was chosen to facilitate trade in Alexandria
The funding was particularly directed to firms operating in the sectors of healthcare, manufacturing, and financial markets.
The Egyptian Company for Self-Maintenance for Roads and Airports made the announcement Wednesday in a meeting with Minister of Transport Kamel al-Wazir.
The statistics agency also reported a jump of 8.11 percent in the production of transport equipment to 128.60 in April 2023 from 118.95 in March during the same year
The total cost of the factories is LE31 billion, including a €600-million loan that is being used in the purchase of machinery.
It is the first of its kind in the world, as it carries out all the processing phases of the mineral. It is also the only quartz plant in Africa and the Middle East.
The moderator of one of the sessions said that the share of the manufacturing sector in the GDP dropped to 16 percent, which is quite low.
The size of Samsung's current investments in Egypt amounts to $500 million, with sales worth $1.3 billion.
Prime Minister Mostafa Madbouli held a meeting Wednesday with the representatives of China's TEDA and Chen Cheng to discuss their plan of establishing a $2-billion factory.
The signing took place on the sidelines of the Egyptian-Georgian Business Forum's meeting.
The president was also briefed on the possibility of investing lands owned by the Ministry of Public Enterprise.
The minister elaborated that Italy wants to establish an energy hub in Europe in cooperation with other Mediterranean states.
The Senate's Agriculture and Irrigation Committee discussed Tuesday evening the proposal of Senator Moomen Moaz.
The president's statement came during the inauguration of New Mansoura City.
Transformative industries constitute 85 percent of Egypt's non-petroleum exports.
Prime Minister Mostafa Madbouly attended Wednesday the signing of the protocol between the Ministry of Industry and Trade, and eFinance.
