Prime Minister Moustafa Madbouli stressed that industry will be the “engine of growth” in the coming period, highlighting ongoing efforts to improve the investment climate through administrative, tax, and customs facilitations.
He added that the Suez Canal Economic Zone (SCZone) hosts investors from more than 28 countries, reflecting growing confidence in Egypt’s economy despite regional challenges.
Madbouli made these remarks at a weekly press conference on Thursday, held at a factory within the SCZone following a tour that included the opening of nine new industrial projects in the Sokhna integrated industrial area.
Madbouli said the newly launched factories bring the total number of operational facilities in the zone to 204, with 173 more under construction. Investments in the operational projects exceed $6.5 billion and have generated tens of thousands of jobs.
He noted that many of these industries were previously imported, placing a financial burden on the state.
Madbouli also pointed to broader development efforts, including recent projects in North Sinai, where infrastructure upgrades—such as the expansion of Port of Arish and development of Arish Airport—aim to position the governorate as a logistics hub while supporting humanitarian operations for Gaza.
On the economic front, Madbouli said Egypt continues to show strong growth despite global volatility, noting rising oil prices amid regional tensions.
He also highlighted the expansion of the private sector, including a major artificial intelligence development center by Valeo employing 3,000 Egyptian engineers.
Madbouli underscored that growth is being driven by a balanced focus on industry, agriculture, tourism, and exports, while reaffirming government support for key sectors, including construction, which has recently faced slower growth.
