EGP100.7 billion.. Directing investments to the manufacturing sector in 2023-2024
An increase of about 20% compared to the expected investments of the sector in the previous year, which amounted to about 84.2 billion pounds.
Shrouq
Dr. Hala Al-Saeed, Minister of Planning, confirmed that the 2024/23 plan directs investments amounting to about 100.7 billion pounds for the manufacturing sector - in both its oil and non-petroleum parts.
An increase of about 20% compared to the expected investments of the sector in the previous year, which amounted to about 84.2 billion pounds.
It is intended that these investments generate industrial output in the range of EGP 393 billion in the year of the plan, with a growth rate of 21% over the expected industrial output of the previous year, which amounted to EGP 325 billion.
Al-Said added that there are four main programs under the industrial development plan for the year 2024/23, from which a wide range of sub-programs emerge, each with specific goals and work mechanisms.
Main programs
The main programs include the program to stimulate industrial investment and deepen local manufacturing, and the program to improve the competitiveness of the industrial sector, which focuses on developing the comprehensive system of standards, quality and control, and the program for developing industrial exports, and finally, the program for developing economic clusters by focusing on a number of promising industries with a competitive advantage.
The projects included in the 2024/23 plan within the framework of the program to stimulate industrial investment and deepen local industrialization, including:
- Establishment of two industrial parks to serve high-tech industries within the framework of a plan to establish (7) industrial parks.
- Completing the facility for the city of Al-Roubiki for tanning leather.
- completing the facilities of the industrial zones in Sohag Governorate (west of Tahta and west of Girga).
- Ending the escort works for the industrial zones in Qena Governorate
- Raising the operating efficiency of the industrial zones in Sohag and Qena
- Legalizing the status of two thousand informal sector factories, Transferring 300 of them to the regions and industrial complexes
- Continuing to modernize the infrastructure in a number of industrial complexes to take advantage of the savings of aggregation, specialization and integration.
- Including the plastic industries complex in Merghem in Al-Amriya, Damietta Furniture City, and the textile industries zone in both Al-Mahalla Al-Kubra and Kafr Al-Dawwar, as well as the completion of development work in the port of Safaga to serve the transportation movement.
Within the framework of the program to improve the competitiveness of the industrial sector, Al-Said explained that the plan aims to issue 700 standard specifications to comply with international standards, obtain quality accreditations for about 260 industrial products, and bring the number of registered ISO certificates to 4,200 certificates.
Dr. Hala Al-Saeed confirmed that the plan pays great attention to the telecommunications and information technology sector because it is considered a vital sector due to its dynamism and the ability to grow and keep pace with recent technical developments in the world of communications.
