Egypt’s Minister of Industry, Khaled Hashem, has affirmed that the iron and steel sector is a cornerstone of the national economy and a key driver for achieving the country’s industrial development goals.
He highlighted the ministry’s comprehensive, long-term strategy to deepen local manufacturing and enhance the competitiveness of the Egyptian industry regionally and internationally.
Speaking at a press conference during his inspection tour of steel factories in Suez Governorate, Hashem was joined by Governor of Suez Hany Rashad and Nahed Youssef, Chairperson of the Industrial Development Authority.
The minister explained that protective tariffs on billets were implemented following careful studies and consultations with stakeholders.
He underlined the importance of expanding local supplier industries to strengthen domestic supply chains, reduce import dependence, and ease foreign currency pressures, increasing the economy’s added value.
He also reaffirmed prioritising industrial energy supply and encouraging private investment in renewable energy within industrial zones to ensure sustainable operations.
Minister Hashem outlined plans to launch five industrial investment funds linking citizens’ savings to productive activities, with the first fund expected before year-end.
He also announced an updated national programme for car manufacturing, targeting 100,000 vehicles annually with over 35 per cent local content, and incentives to boost local supplier industries.
Hashem underscored the importance of green manufacturing and export expansion, including measuring factory carbon emissions to align with international standards and facilitate global market access, particularly in Europe.
During his tour, he visited Misr National Steel and El Garhy Steel factory in Ataqa, with a 300,000-tonne annual capacity, and Ezz Steel in Ain Sokhna, producing 2.2 million tonnes annually and providing over 10,000 direct jobs, reviewing production processes from furnaces to finished products.
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