Egypt’s President Abdel Fattah El Sisi attended Saturday the inauguration of the first international forum and exhibition for industry.
The event is organised by the Federation of Egyptian Industries (FEI) at Al Manara International Conference Center to celebrate the 100th anniversary of its establishment.
The forum was attended by Prime Minister Moustafa Madbouli and a number of ministers and senior state officials.
A documentary was screened on the history of the industry globally during the industrial revolution in 1750.
The documentary pointed out that world countries have been seeking to localize and strengthen industries and depend on local efforts to bridge any gaps.
Egypt was capable of absorbing crises, thanks to tireless and painstaking efforts exerted by the state over the past years, it noted.
The documentary said efforts are now focused on developing the flow of industry and trade in the country.
The Gross Domestic Product reached up to 400 billion dollars in 2021, according to it.
President Abdel Fattah El Sisi’s era has witnessed the independence of the Federation of Egyptian Industries for first time ever to become a direct partner with the state, said FEI Chairman Mohamed el Sewedy.
Sewedy made remarks on Saturday at the three-day first international forum and exhibition for industry, in the presence of President Sisi at Al Manara International Conference Center in New Cairo.
The FEI had been affiliated to the government and the ministry of industry for several years, but it has become independent in President Sisi’s era, he said, extending thanks to the president over attending the 100th anniversary of the establishment of the federation.
The forum is attended by a large number of Egyptian, Arab and foreign investors, representatives of relevant regional and international institutions, members of joint Arab chambers of commerce and industry, representatives of diplomatic missions in Egypt, businessmen and the board of the Federation of Egyptian Industries (FEI), among others.
Another documentary was screened about “IBDAA” (Start) initiative spotlighting Egyptian craftsmen and history of handicrafts.
It highlighted efforts exerted by new generations to build the new republic and talked about “IBDAA” initiative and the National Initiative for Developing Egyptian Industry.
The documentary tackled the idea of ambitious youth who are confident that it is high time to upgrade local industries nationwide.
It pointed out to the targets of the initiative that calls for strengthening industries and providing job opportunities and reducing import gap by achieving self-sufficiency in industry.
A main objective of the initiative is to promote Egyptian products in local markets nationwide to have “Made In Egypt” slogan, along with stimulating local and foreign investments in cooperation with the bodies concerned.
The initiative is as well aiming to hone skills of Egyptian workers in accordance with global criteria and boost technical education culture, according to it.
The documentary said the initiative made partnerships to carry out 64 projects, to be opened in early 2023.
Managing Director of Beko Egypt for heavy machinery Shahir el Essawi said that the primary goal to cooperate with the national initiative for localizing industry “IBDAA” is to incorporate as many as 100 company into the national economy on annual basis, with the aim of providing jobs, operating factories, and localizing industry in the heavy machinery.
During the proceedings of the first international forum and exhibition for industry on Saturday, Essawi said that the company is operating in exporting and granting licenses to heavy machinery.
Beko Egypt cooperated with “IBDAA” initiative to manufacture equipment, localize heavy machinery industry and generators in Egypt, he added.
He, meanwhile, pointed out to the role of the Arab Organization for Industrialization in producing equipment – in its primary phase – along with the international pacts, which were signed between Egypt and Arab and African countries.
Such pacts contribute to the export process in the upcoming phase, he made it clear.
He further referred to Egypt’s efforts to promote cooperation with the Arab countries, adding that this project will undoubtedly contribute to reducing the import bill and raising the export balance.
Concluding his speech, Essawi extended thanks to President Abdel Fattah El Sisi for sponsoring several initiatives, including “IBDAA” initiative.
For his part, Board Chairman of “Seha” medical company Mohamed Selim said that the pharmaceutical raw materials city is considered to be the first of its kind in Egypt, the Middle East, and Africa.
“When President Sisi launched the national initiative to develop and localize industry, we started to establish a consortium grouping several Egyptian companies that have experience in the pharmaceutical industry sphere,” he added.
“We contacted with “IBDAA” initiative, which facilitated the process of receiving the allotted lands from the governmental bodies,” he went on to say.
He further said that three companies were established to manufacture pharmaceutical raw materials.
Meanwhile, Chairman of Polyserve Fertilizers Sherif el Gabaly said that coordination was maintained with “IBDAA” initiative to manufacture fodder ingredients, with the aim of producing monocalcium phosphate in Gamasa industrial city in Daqahlia governorate.
The project is expected to produce about 150,000 tons in three phases, he said, adding that its investments stand at about EGP 1 billion.
Regarding the Soda Ash project, Gebaly said that a meeting was held between “IBDAA” initiative and the holding company, an affiliate of the Petroleum Ministry, along with a host of Egyptian investors.
This company will produce about 500,000 tons annually with an exports bill worth about dlrs 200 million, he added.
It is scheduled to finalize the feasibility study within three months, he said, adding that a host of foreign investors are keen on investing in this project.
