Sisi Follows up on Efforts to Develop National Heavy Industries

President Abdel Fattah El Sisi followed up on the government's executive steps to develop the cement, iron and steel industries, according to Presidency Spokesperson Bassam Rady's statements given on Sunday.

Sisi met with Prime Minister Dr. Mostafa Madbouly, Assistant to the President for National and Strategic Projects Eng. Sherif Ismail, Minister of Electricity and Renewable Energy Dr. Mohamed Shaker, Minister of Petroleum and Mineral Resources Eng. Tarek El-Molla, Minister of Finance Dr. Mohamed Maait, Minister of Trade and Industry Mrs. Nevine Gamea, and Advisor to the President of the Republic for Financial Affairs Major General Mohamed Amin.

"The meeting discussed the executive steps taken by the government to develop the cement as well as iron and steel industries," said Rady.

The president issued directives for continuing efforts to achieve the localization of industry and to provide a supportive environment for the national heavy industries sector.

Sisi stressed that the cement and iron and steel sectors should be at the forefront of the efforts as these industries play an important role in furthering the State’s economic advancement.

"These industries are of special significance, for they enter into the unprecedented development process taking place in all sectors across Egypt, especially in the urban and residential communities, new cities, and the underlying infrastructure, roads, and axes," Rady added.

The spokesman pointed out that the most prominent challenges facing the cement and iron and steel sectors, including the production capacity and the cost structure of production and marketing, in Egypt were presented.

In this context, a number of operational axes and mechanisms were presented to overcome these challenges by adopting an integrated industrial policy that guarantees to deepen local manufacturing, enhance competitiveness, overcome logistical obstacles, and provide the necessary infrastructure.