Industrial development is top priority on cabinet agenda: Prime Minister

Ahram Online , Monday 15 Jul 2024

Prime Minister Mostafa Madbouly stated in a meeting with the new cabinet industrial development cluster that industrial development is atop Egypt’s agenda in the coming period.

industrial development cluster
Part of the meeting held by cabinet industrial development cluster on Monday 15 July, 2024. Photo courtesy of Egyptian cabinet.

 

This cluster includes all arms relevant to industrial development from licensing to operations who will meet weekly.

The cluster’s first meeting included Minister of Industry and Transport and Deputy Prime Minister for Industrial Development Kamel El-Wazir, Minister of Environment Yasmine Fouad, and Minister of State for Military Production Mohamed Salah El-Din, among others.

Additionally, the President of the General Authority for the Suez Canal Economic Zone (SCZONE) Walid Gamal El-Din, Chairman of the Arab Organization for Industrialization Mokhtar Abdel-Latif, Vice President of the General Authority for the Economic and Investment Zone Mohamed Abdel-Gawad, and others attended the meeting.

Madbouly tasked the cluster with closely monitoring all recently approved industrial projects to identify the implementation steps and speed up their operation.

Any decisions made by the cluster during their meeting that require presentation to the cabinet will be submitted to the government within the same week for approval, he emphasized.

El-Wazir explained the work mechanisms of the industrial development cluster in the upcoming period, the most important of which will be developing and implementing the national strategy for industrial development and working on encouraging direct private investment in the industrial sector.

He also presented the results of several meetings held recently with members of the Federation of Egyptian Industries (FEI), heads of industrial chambers, and many industrial investors to stimulate the localization of multiple industries.

Moreover, he reviewed other issues during the meeting, like the current procedures for licensing industrial facilities and proposals for their development, until an Egyptian industrial platform is established.

El-Wazir then discussed the timeline of implementing a project, in the context of simplifying establishment steps, reaching the factory’s operation, and starting production.

He also presented the status of multiple industrial lands within the country, in terms of the affiliated entities, the industrial developer, the allocated spaces, and the implementation and delivery situation.

Moreover, he discussed the standing of many industrial complexes affiliated with the Industrial Development Authority and the executive body of the Industrial and Mining Projects Authority, tackling the number of units in each complex and their percentage and addressing the status of vacant industrial land plots.

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