President: Enhanced transport industry localisation optimises benefits of modernised infrastructure

Egypt’s President Abdel Fattah El Sisi has called for enhancing the pace of industry localisation in the transport sector, including through increasing the local components’ share in production and providing the necessary facilities.

This came during a meeting that President Sisi called on Monday with Prime Minister Moustafa Madbouli, Planning and Economic Development Minister Hala el-Saeed, Finance Minister Mohamed Maeet, and Transport Minister Kamel el-Wazir.

The meeting was devoted to reviewing the executive status of the investment plan for transport sector projects, Presidency Spokesman Fahmy said. During the meeting, he added, President Sisi was briefed on the progress of efforts to develop the railway system, upgrade metro lines in Greater Cairo and establish, modernise, and operate ports across the country in partnership with several international companies.

Also reviewed during the meeting were the government’s efforts to localise the industries of relevance to the transport sector including through building partnerships with the private sector and attracting foreign investments, Spokesman Fahmy said.

In directives he gave during the meeting, President Sisi called for sustained efforts to enhance the process of industry localisation in Egypt’s transport sector and increasing the percentage of local components, in addition to the provision of the facilities deemed necessary, Presidency Spokesman Ahmed Fahmy said.

All such efforts, President Sisi emphasised, contribute to the implementation of the state’s strategy for enhancing national industry in productive sectors, thereby ensuring optimum benefiting from the infrastructure that has been upgraded and modernised nation-wide, Spokesman Fahmy said.

Additionally, the president urged the swift completion of the construction and development of maritime, land, and dry ports, as well as logistic zones, to encourage transit trade and help the growth of Egyptian exports.

Elaborating, President Sisi emphasised that the aim is to transform Egypt into a regional hub for logistics and transit trade, consequently more employment opportunities for citizens and driving comprehensive economic and social development efforts, Spokesman Fahmy said.