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On Sunday, President Abdel Fattah El-Sisi held a meeting with Prime Minister Mostafa Madbouly, and Nevin Jama, Minister of Trade and Industry
Ambassador Bassam Radi, spokesperson for the Presidency of the Republic, said that the meeting dealt with reviewing efforts to replace imports, increasing reliance on local products and providing production requirements for the benefit of national industry.
The President directed to continue the steps taken to increase the encouragement of reliance on the national industry, in order to bridge the gap between exports and imports, and achieve self-sufficiency in local products, while in this regard preparing a comprehensive commodity inventory for the products that can be relied on locally manufactured and promoting industrial investment in conjunction with the sector’s expertise The private sector operating in Egypt has distinguished experience, as well as seeking assistance from the expertise of technological research centers to raise the efficiency of local manufacturing.
Nevin Jameh reviewed the indicators of Egyptian imports from the beginning of the current year 2021 until now, as well as the executive steps taken by the ministry within the framework of the import substitution program to deepen local industrialization and encourage reliance on national industry, in cooperation and coordination with all concerned government agencies, in various sectors. Industrial, including engineering industries, auto components, home appliances products, chemical industries, plastic products, spinning, textile and clothing industries.
The Minister of Trade and Industry offered joint cooperation with the Central Bank within the framework of the financing programs for import substitution and industry support, in addition to the Ministry’s efforts to enhance joint cooperation with some international donors to contribute to the transfer of production technology and support a number of industrial sectors related to achieving sustainable development goals, including In it is the United Nations Industrial Development Organization (UNIDO), as well as the German Agency for International Cooperation, which is a joint cooperation aimed at developing integrated industrial cities and enhancing manufacturing processes for national products that are able to compete in international markets.