IMC: Egypt to Slash Industrial Imports by $18 Billion to Be Made Locally

Eng. Mohamed Abdel Karim, head of the Industrial Modernization Center (IMC), revealed that a list of imports comprising 131 customs items was analyzed, with the value of imports of these items amounting to 16 to 18 billion dollars, in preparation for their local manufacture.

He added that the government seeks to make way for the private sector to invest in them, with priority given to the sectors that Egypt has a comparative advantage.

Abdel Karim revealed in televised statements that one of the most important sectors in which the structure of imports was analyzed are wood and furniture, engineering industries, food and agriculture, chemical industries, textiles, pharmaceutical and medical industries, printing, and packaging, building materials, and metal industries.