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Egypt targets to raise the size of industrial production by 19 percent from LE3.6 trillion in FY 2022-23 to LE4.3 trillion in FY 2023-24. There is also a goal to make it LE5.74 trillion in FY 2025/26, according to a report released by the House of Representatives Industrial Committee
Egypt targets to raise the size of industrial production by 19 percent from LE3.6 trillion in FY 2022-23 to LE4.3 trillion in FY 2023-24. There is also a goal to make it LE5.74 trillion in FY 2025/26, according to a report released by the House of Representatives Industrial Committee.
The report noted that the sector’s shares in the GDP and non-oil exports are 16 percent, and 85 percent, respectively. It also employs 3.5 million workers, representing 13 percent of the labor force. This growth has been achieved by incentivizing industrial investment, deepening local manufacturing, and enhancing the competitiveness of the industrial sector by improving the systems of specifications, quality, and control.
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Other measures include expanding the export development programme, establishing industrial complexes in governorates receiving fewer investments and granting incentives to investors there, as well as encouraging factories to modernize and expand. The plan also includes funding and rewarding innovations, in addition to promoting and localizing promising industries, such as pharmaceuticals and vaccine production.
