The allocated investment show an increase of about 20 percent compared to the expected investments of the sector in the previous year, which recorded 84.2 billion pounds.
The Edba [which translates to: Start] Initiative has launched a national project to support the digital transformation of the Egyptian industrial sector.
There are many examples of women who have proved their competency in all fields of production, leadership, and executive positions since the founding of the Arab Organization for Industrialization (AOI), said its head Mokhtar Abdel Latif on Tuesday.
“This shall create more job opportunities in this sector for the people in Damietta and increase Egyptian exports and the national income,” Fahmy said.
The total value of the Finance Ministry's initiative, approved by the cabinet in January, is LE 150 billion, the largest share of which (LE 140 billion) will be used to finance capital money, and the other LE 10 billion is dedicated to financing the purchase of capital goods.
He added that trade, economic and investment relations are witnessing a boom in light of bilateral trade regional and continental agreements.
The president's statement came during the inauguration of New Mansoura City.
The government has exerted great efforts to support the Egyptian industry through different steps as part of the "Start" initiative.
The Ministry of Trade and Industry welcomes more Chinese investments in the Egyptian market, the minister affirmed, pointing to a bunch of incentives and advantages offered in the Arab country.
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.
The factory would produce tires for cars, trucks, buses, agricultural tractors, monorails, and heavy equipment.
Member of "Start" initiative Aya Hossam El Din stated in a TV interview Saturday that the number of industrial projects launched within the initiative is 64.
The session addresses a number of axes, namely the challenges facing the industrial sector in Egypt, and the financing gap as one of the challenges facing the industrial sector.
The President’s direction aim at providing correct and accurate information regarding the industrial investments to, consequently, enhance chances of success based on making sound decisions, Rady said.
Egyptian President Abdel Fattah al-Sisi inaugurated the investment zone in Benha City, Qalyubia Governorate, via video conference technology, during the inauguration of a number of development projects at the level of the Republic on Tuesday.
Luxor inaugurated last year Al-Baghdadi Industrial Complex that opened the eyes of the city to the world of industry, after it had solely relied on tourism sector.
This constitutes a major pillar of stability and development, Tawfiq said in an inaugural speech on behalf of Prime Minister Moustafa Madbouli.
The AfDB clarified that the new foundation will significantly enhance Africa’s access to the technologies that underpin the manufacture of medicines, vaccines, and other pharmaceutical products.
Egypt, Jordan and UAE have signed the Integrated Partnership Initiative for economic development through the good use of the capabilities of the three countries.