President Abdel Fattah El-Sisi met on Wednesday Prime Minister Moustafa Madbouli in the presence of Deputy Prime Minister for Economic Affairs Hussein Eissa, Transport Minister Kamel El-Wazir, Investment and Foreign Trade Minister Mohamed Farid Saleh, and Industry Minister Khaled Hashem.
The Presidency Spokesman Ambassador Mohamed El-Shennawy said the meeting reviewed government efforts to support investment, foreign trade and local industry. This comes within the state’s commitment to encouraging investment and empowering the industrial sector to fulfill its role as well as ensuring the availability of production inputs and raw materials for factories.
In this regard, President Sisi stressed the need to remove all challenges facing investment and industry in order to facilitate the localisation of industry in partnership with the private sector.
He also called for increasing local investment and attracting more foreign and Arab investment as part of plans to turn Egypt into a regional industrial hub.
The meeting also discussed protecting local industry from harmful trade practices. It addressed pressures from rising production costs. This comes as global markets face ongoing challenges. The aim is to strengthen local production capacity and maintain an attractive investment climate.
The president stressed the importance of protecting the Egyptian economy from negative impacts of unfair global trade practices. He underlined the need to ensure stable production supply chains.
The President also called for maintaining safe levels of foreign currency reserves to secure strategic goods and key inputs for industry.
