Madbouly: We Aim to Strengthen Domestic Industries

On Monday, Prime Minister Mostafa Madbouly affirmed that his government will proceed with structural and institutional reforms.

He mentioned that his new government aims to enhance the economic activity structure and transition into a competitive economy by strengthening local and advanced industries and capitalizing on Egypt's strengths in sectors such as agriculture, communications, and information technology. 

This came during the House of Representatives session to present the new government’s program.

"We are implementing policies to increase the contribution of industrial, agricultural, communications, and information technology sectors to the gross domestic product to 38% by 2026-2027." 

He emphasized the importance of developing the national industry for sustainable economic growth, adding that efforts include improving the business environment, streamlining bureaucratic procedures to support local and foreign investors, and promoting innovation and technology in the industrial sector.