Egypt adopts new strategy to increase industry’s contribution to domestic product by 20%

The Egyptian Ministry of Industry is currently approaching the preparation of the national strategy for industry, which focuses on attracting investments to deepen the industry.

The ministry is targeting prioritizing industrial sectors in which Egypt has an industrial base, opportunities and competitive advantages at the regional and global levels.

The strategy aims to achieve a number of goals by the fiscal year 2026/2027, the most important of which is increasing the industry’s share of the GDP reaching 20% and the export growth rate reaches between 18-25% annually.

An analysis of Egyptian imports was conducted over 4 consecutive years and a number of priority industries were identified on which other industries depend.

A total of 152 investment opportunities were identified, including 92 opportunities to manufacture production requirements for the Egyptian industry to ensure the sustainability of supply chains.

This project was started by allocating 160 plots of land. Its area is about 1.252 million square meters, with an investment of 17 billion pounds, and an expected workforce of 26 thousand workers.

A number of strategic industries were identified to be granted exceptional incentives to attract global industrial entities. The value-added chains of these industries were analyzed to determine raw materials and their availability in Egypt.

The Ministry also identified new investment incentives to be granted to these industries, which include tax exemptions and the recovery of a percentage of the value of the facilities in the event of completion. of the project in half the scheduled period.