Egyptian PM Explores Local Manufacturing Boost With Elaraby Group
Date
6/9/2024 11:14:02 PM
(MENAFN- Daily News Egypt) Egyptian Prime Minister Mostafa Madbouly met with Elaraby Group officials on Sunday to discuss strategies for increasing the proportion of locally manufactured components in various products. The meeting reflects a broader government push to bolster the industrial sector and achieve key economic goals.
Mohamed Mahmoud El-Araby, CEO of Elaraby Group, outlined the company's efforts to deepen local industry, highlighting a collaboration with the“Ebda” initiative that resulted in the localization of air conditioner compressor manufacturing.
El-Araby presented a detailed proposal to increase local components in manufacturing, including a comprehensive breakdown of raw materials and manufacturing processes for various household appliances.
“This detailed table would contribute to determining the manufacturing ratios for each product/factory, determining the roadmap for each factory to deepen manufacturing, in addition to identifying the main raw materials required for the industry,” El-Araby stated.
Mohamed Abdel Gayed El-Araby, head of the group's operations, showcased several locally manufactured components that could be utilized in various products. He emphasized potential avenues for cooperation and integration between manufacturers, including joint efforts to produce and purchase components, thereby reducing reliance on imports.
Prime Minister Madbouly emphasized the government's commitment to supporting the industrial sector and increasing the percentage of local components in manufactured products. He highlighted President Abdel Fattah Al-Sisi's continuous directives to develop the sector, given its crucial role in achieving the country's economic, developmental, and social objectives.
The meeting was also attended by Nahed Youssef, Head of the Industrial Development Authority, and other officials.
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