Hala El-Said, the minister of planning and Economic Development confirmed that the industrial sector is one of the most important sectors of development, noting that the growth rate in the second quarter of this year reached 5.6%, compared to 5.4% in the same period last year.
This came during her participation in the meeting of the Egyptian parliament's industry committee, headed by Farag Amer.
"We care that the sources of growth be added value, and not driven by consumption," El-Said said.
The minister indicated that the government resorted to raising the minimum wage to create a balance after the lower rate of consumption the country has witnessed.
El-Said explained that one of the Ministry's objectives is to modernize the industry, which will reduce imports and increase exports, contributing to the national income and the country's foreign reserves.
"The increase in export guarantees sustainability in growth and access to decent work opportunities," she noted, adding that there are serious steps to increase investment opportunities, especially in light of the large population increase.
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The Egyptian parliament's industry committee meeting on Tuesday[/caption]
"We need to push the technical education system to provide skilled and trained labor that can compete internally and externally," El-Said said.
On stumbling assets, the minister added that It is a cross-cutting issue, noting that an electronic system was created with a database in coordination with administrative control and the State Land Protection Agencies to know the size of these assets and maximize their use.
On his part Amer stressed that there is a determination by President Abdel Fattah El-Sisi to push the industry forward, especially as the country is recovering and the Central Bank has made great strides in correcting the monetary situation in Egypt.
"We have hope that Egypt will be the first country in Africa to attract investment, so support must be provided to manufacturers, especially with regard to licenses," said the MP.
He pointed out that the possibility of competing with the outer world, only comes when Egyptian industrialists stand at an equal distance with their peers in other countries in terms of facilities and providing the appropriate environment.
Amer stressed the need to increase the added value of Egyptian industries in order to raise Egypt's rank internationally, saying: “The closer the makers and the government will be, the more progress will be made.”
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