Gendi: Egypt launched several successful initiatives to promote industrial sector

06 / 11 / 2023

By Marwa Nassar - -

Emigration Minister Soha Gendi said Egypt launched several successful initiatives to develop the industrial sector, magnify revenues of Egyptian exports, cut imports and boost dependence on local components.

She said industry is the locomotive of economic growth of any country, therefore boosting this sector is a top priority for Egypt.

She made the remarks during the opening session of the Second Egypt Business Solutions Summit which kicked off on Monday under the theme of “Fill the Gap”.

Gendi said the industrial sector secures thousands of jobs, highlighting the importance of small and medium-sized enterprises (SMEs) which represent one of the mainstays of social and economic development.

She referred to the package of incentives offered by the Egyptian government to various industrial projects, including tax exemption.

Gendi said the ministry is keen on playing a pivotal role in encouraging Egyptian expats to inject investments into their homeland, noting that there are about 14 million Egyptians in various world countries.