The government is preparing a new strategy to develop the industrial sector, said Prime Minister Mostafa Madbouly yesterday, highlighting the importance of the private sector’s participation in its development.

The strategy set to launch in the next three months, the PM added.

Madbouly hopes that one of the economic conference’s results is to reach a general framework for the industrial strategy, which is expected to cover the next decade.

The PM explained that the conference provides an opportunity to meet with various Egyptian industrialists, and highlighted the importance of industrialists working with the government to develop the strategy.

“They know very well what the objectives are, as well as the features of this strategy,” Madbouly stressed, adding that the state supports various efforts to come up with an integrated strategy for the industry.

Madbouly’s comments came during yesterday’s first session at the Egyptian Economic Conference; titled “State Ownership Policy Document …Supporting Competition Policies”, the session reviewed a number of themes related to the mechanisms for implementing the State Ownership Policy, and the principles governing the state’s economic activities. It also discussed the competitive neutrality strategy of the Competition Protection Agency.

He also noted that Egypt is looking to attract around $40 billion in investments by 2026 through the document.