An investment of 200 billion pounds.. 17 goals of the presidential 'Start' initiative

President Abdel Fattah El-Sisi watched a documentary film about the 'Start' initiative projects to localize the Egyptian industry, where the documentary film showed a number of projects in which the Start Investors Initiative helped.

The documentary also included a number of testimonies from a number of investors, as well as a number of workers, about what the 'Start' initiative provided for them to start their projects.

What is the 'Start' initiative?

1. Initiative Start, based on an assignment from President Abdel Fattah El-Sisi, to the graduates of the Presidential Program for Qualifying Youth for Leadership, started by linking the Decent Life initiative with an integrated project for industry.

2. The 'start' initiative is a strong message from President El-Sisi and the Egyptian state to Egyptian businessmen and investors who are ready to pump investments and preserve job opportunities, employees and their salaries in light of the challenges facing the Egyptian state in the current period.

3. The 'Start' initiative launched a special website to start working on it and analyze data and problems, as well as working to receive any new ideas related to industry and businessmen.

4. The 'Start' initiative works on three main axes, including major projects, industry support and training.

5. The 'Start' initiative started training programs for workers in Sohag governorate, where training took place in 3 craft specializations, namely alumetal, air conditioning and refrigeration repair, electrical appliances and sewing.

6. The 'Start' initiative does not target specific industries, but rather looks at "supporting feeding industries and ensuring their ability to expand."

7. The main objective of the 'Start' initiative is to reduce imports and support the local industry. It also plays a role in the government's plan to enhance the role of the private sector in the economy.

Initiative goals

1. The 'Start' initiative aims to encourage businessmen to start projects in all fields in all governorates of Egypt at any level.

2. The 'Start' initiative believes that small, medium and large enterprises aim to transform a society dependent on imports into one that produces local products that have a global character and can be exported.

3. The 'Start' initiative aims to save about $16 billion in the import bill.

4. The 'Start' initiative worked in all industrial fields to localize the industry in Egypt and provide job opportunities for young people

5. The 'Start' initiative aims to transfer existing technology in the world to Egypt and produce products of the required international quality

6. The 'Start' initiative established 64 projects in all industrial sectors, and the first two of them were opened. The openings will continue during 2023 and 2024.

7. The "'Start' initiative created opportunities for cooperation with 33 Egyptian investors and 20 foreign investors.

8. The 'Start' initiative welcomes all industrialists in Egypt to join the initiative, and there are no conditions for joining.

9. The “'Start' initiative works during the first phase on major projects. The needs of the local market are provided, and in the next phase, exports are targeted to countries.

10. The 'Start' initiative is concerned with searching for the needs of each factory, and then directing it through the competent authorities to solve its problems. In the event that factories need financial support, it is directed to banks and the competent authorities to provide this support.

11. The 'Start' initiative has worked on a special project consisting of water desalination plants and other projects in all other industrial sectors.

12. The national 'Start' initiative to develop Egyptian industry is scheduled to invest about 200 billion pounds over four years through its investment arm, "Start", which is majority owned by the Decent Life Foundation.

13. The 'Start' initiative aims to create 150 direct and indirect job opportunities within four years.

14. The 'Start' initiative has so far helped 1,500 industrial establishments to legalize their status by assisting them in obtaining licenses or submitting the necessary documents.

15. The 'Start' initiative has so far succeeded in concluding partnerships between local manufacturers of home appliances and foreign investors to produce industrial components locally.

16. The government has identified 9 priority sectors for the 'Start' initiative within the objectives of the import substitution program: wood and furniture industries, engineering industries, food and agriculture, chemical industries, textiles, pharmaceutical and medical industries, printing and packaging, building materials, and metal industries.

17. The priority sectors of the 'Start' initiative include 141 categories of products, which together accounted for 23% of the import bill for 2019, or about $17 billion.