Egypt’s President Abdel Fattah El Sisi instructed the bodies concerned to keep up their efforts for creating an environment conducive to national heavy industries, especially the iron and steel industry, given their vital role in supporting ongoing development of all state sectors.
Sisi gave the directives during a meeting with Head of the Armed Forces Financial Affairs Authority Maj. Gen. Ahmed el Shazly, Director General of the National Service Projects Organization of the Armed Forces (NSPO) Maj. Gen. Walid Abul Magd, and Board Chairman of ‘Solb Misr’, an Egyptian Steel Group, Adel El Kayyal.
Sisi also highlighted the importance of these industries for reducing dependence on foreign currency by making the best use of local raw materials, according to a statement by Presidential Spokesman Ahmed Fahmy.
During the meeting, Sisi followed up the progress of ongoing iron and steel projects pursued as part of a national plan to improve heavy and strategic industries in Egypt.
He also reviewed the efforts under way to entrench local heavy industries, promote the sector’s competitiveness and export capabilities, and iron out any logistics barriers on that score, the spokesman noted.
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