Egypt’s Minister of Foreign Affairs, International Co-operation and Egyptian Expatriates Badr Abdelatty stressed the government’s commitment to strengthening Egypt’s position as a regional manufacturing hub.
“Developing industrial capabilities is a priority in the country’s structural economic reform efforts, as it would expand the productive base, attract investment and deepen Egypt’s integration into regional and global value chains,” He said.
Abdelatty, who also serves as Egypt’s governor at the World Bank Group, took part on Tuesday, in the World Bank Group 5th Global Manufacturing Conference, held in Cairo from October 26 to 28.
The conference brings together officials and representatives of international institutions and the private sector.
In his speech, Minister Abdelatty outlined national strategies to drive economic growth, enhance the competitiveness of the Egyptian economy and support industrial development across Africa.
He highlighted Egypt’s target of increasing non-oil exports to $100 billion by 2030 through localising industries, components and production inputs, while increasing domestic value added.
Abdelatty also reviewed government efforts to direct investment towards priority industries, particularly green and sustainable manufacturing, and facilitate access to industrial land and facilities.
He underscored the importance of strengthening the private sector’s role in localising technology and creating sustainable jobs.
He said Egypt enjoys several advantages for industrial investment, including its strategic location, developed infrastructure, large domestic market and skilled workforce.
The minister stressed the importance of co-operation with international financial institutions and development partners to support technology transfer, skills development and access to finance, while enhancing the competitiveness of Egyptian exports amid trade challenges linked to climate-related measures.
