Egypt Plans to Invest EGP 393 Billion in Industry in FY 2023/24

The financial statement submitted by the government for the new fiscal year 2023/2024 to the House of Representatives (Parliament) revealed that these investments are expected to generate industrial output in the range of EGP 393 billion in the fiscal year of the plan, with a growth rate of 21% over the expected industrial output of EGP 325 billion in the previous year.

The statement also revealed the projects included in the 2024/23 plan within the framework of the industrial investment stimulus program and deepening local industrialization.

The plan includes the establishment of two industrial complexes to serve high-tech industries within the framework of the plan to establish (7) industrial clusters, the completion of the Rubiki city for leather tanning facilities, and the completion of the region’s facilities. Industrial zones in Sohag Governorate (west of Tahta and west of Girga),

The financial revealed that the 2024/23 plan directs investments amounting to about 100.7 billion pounds for the manufacturing sector - both petroleum and non-petroleum - with an increase of about 20% over the expected investments for the sector in the previous year.