Prime Minister Mostafa Madbouly with several members of the Egyptian Cabinet and Companies representatives during the inauguration of Egypt Can with Industry Conference in Cairo on Tuesday 31 May, 2022. Photo courtesy of Egyptian Cabinet Facebook page.
Madbouly's statements came during his speech at the inauguration of the sixth edition of the 'Egypt Can' conference, which is held this year under the title "Egypt Can with industry."
The Prime Minsiter added that all the manufacturers in Africa do not have enough information about the manufacturing capabilities and needs of other countries and so a database will help them to identify partners across the continent.
He also pointed out that the process of integration between African countries and the increase of bilateral trade between them — which currently stands at 18%, compared to about 56% in Asian countries — will only be achieved by establishing a network of roads linking African countries as well as ports and airports across the continent in addition to activating free trade agreements.
Furthermore, the PM indicated that Egypt spent billions of EGP to create the basic infrastructure to upgrade industry, adding that Egypt has electricity and industrial complexes that investors may be interested in.
He also stated that the government created a business climate by introducing laws like the Investment Law, Industrial Zones Law, Industrial Licenses Law, Economic Zones Law, Small and Medium Industries Law, and the Competition Protection Law, adding that they can all be amended if necessary.
Concerning the state’s support for exports, Madbouly said that following President Abdel-Fattah El-Sisi’s directives, the problems of exporters and industrialists in Egypt were solved and that Egyptian exports managed to achieve a leap last year, even increasing during the first quarter of this year.
Twelve sessions will be held as part of the conference to discuss a group of industrial issues, including the opening session, which discussed industrial investment, the future of industry, as well as developing industrial societies in Egypt to attain sustainable development by linking the capital market to industrial development.
As part of Egypt’s preparations for UN Conference of Parties on Climate Change (COP27), which will be held in Sharm El-Sheikh this November, the second session of the Egypt Can Conference will be titled ‘Green Industry’ and will discuss the green transition and the most important environmental and climate issues.
Furthermore, the third session will discuss the future of industry in Egypt and Africa, while the fourth session will be dedicated to AI, digitisation, as well as programming. Additionally, the fifth session will discuss industries of the future, including the latest developments in the textile industries pertaining to liquid hydrogen.
The sixth session will discuss the manufacturing of eco-friendly means of transportation and supporting the production of liquid hydrogen in Egypt. Finally, the seventh session will be dedicated to medical industries, whether pharmaceutical or medical apparatuses.
Held under the auspices of President Abdel-Fattah El Sisi, the Egypt Can with Industry Conference is organised by the Ministry of Emigration and Expatriate Affairs in cooperation with the Ministries of Trade and Industry, the Public Enterprise Sector, and the Ministry of State For Military Production, and is being held at the New Administrative Capital.