Minister Samir further emphasized that Egypt's industrial output witnessed remarkable growth over the years.
Egypt's industrial prowess takes center stage as Minister Ahmed Samir reveals remarkable export growth and ambitious goals - File Photo
Egypt's Minister of Trade and Industry, Engineer Ahmed Samir, recently highlighted key indicators of the Egyptian industrial sector, showcasing significant growth over the past few years. Speaking at the "Economy" session during the 2023 "Hekayet Watan" (Homeland's Story) conference, which was graced by the presence of President Abdel Fattah El-Sisi, the minister unveiled impressive statistics reflecting the nation's industrial progress.
In 2014, Egypt's export value reached $21.9 billion, while in 2022, it surged to $35.8 billion. The industrial exports, specifically, climbed from $12.1 billion in 2014 to an impressive $22.2 billion in 2022. These figures underscore Egypt's growing presence in the global market and its commitment to expanding its industrial footprint.
Minister Samir further emphasized that Egypt's industrial output witnessed remarkable growth over the years. In 2014, the industrial output stood at EGP 357 billion, and by 2022, it had reached an impressive EGP 1.2 trillion. He also announced the issuance of 24 golden industrial licenses to date, highlighting the nation's dedication to fostering a vibrant industrial sector.
Egypt's ambitions in the industrial realm are lofty, with the goal of reaching export values totaling $100 billion. The minister acknowledged that Egypt has faced complex external crises over the years, factors beyond the state's control. However, the country is determined to chart a clear path forward, guided by an analytical approach to understand the key drivers impacting the industrial sector.
He also acknowledged that production inputs have been significantly affected, either due to inflation or supply chain disruptions. This critical issue has resulted in a slowdown in industrial growth. Minister Samir emphasized that the global industrial landscape is undergoing a profound transformation. Economies and industries are migrating from one country to another, and there is a growing trend of relocating and localizing industries in different regions.
In response to these global shifts, Egypt is proactive in developing new industrial strategies. Minister Samir announced the imminent launch of the National Industrial Strategy, scheduled for release by the end of this October. This strategy is poised to position Egypt as a key player in the ever-evolving global industrial landscape.
