Housing of Representatives: “Industry” lives an unprecedented renaissance thanks to the support of political leadership and investment motivation plans
Representative Dr. Ahmed Abdel Majid, Undersecretary of the Housing Committee in the House of Representatives, said that the Egyptian state is witnessing an unprecedented industrial boom thanks to the strong political will of President Abdel Fattah El -Sisi, praising the serious government initiatives that were reviewed during the celebration of the Labor Day from the Suez Governorate, in the presence of the President. 2024 reflects a qualitative shift in the industry file, pointing to the establishment of more than 4300 new factories with a growth rate Industrial Egypt 2030 & quot, which was approved by President Sisi, represents a qualitative shift in the industrial investment environment, by providing tax and customs incentives, and facilitating licensing procedures, in addition to launching a digital platform to facilitate services for investors. With the financing initiatives that included working capital support with a value of up to 120 billion pounds, financing the purchase of equipment and production lines with 30 billion pounds, in addition to establishing a fund to support troubled factories, considering that these measures translate practically the state is directed towards enhancing production and export. The leather in Rubiki, where 308 tanneries and 40 glue factories were operated, and 91 new factories have been launched, in a role model for the localization of specialized industries.
& nbsp; Until the current industrial production numbers, which amounted to 76 billion dollars, represents an important step towards reaching the target of 170 billion by 2030, while raising the contribution of the industry to the domestic product from 14% to 20%. Industrial exports, especially in light of the achievement of industrial exports of 34 billion dollars out of a total of 42 billion, with an ambitious goal to reach $ 118 billion of industrial exports in 2030.
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