Egyptian Prime Minister says government focuses on maximizing use of country's assets
Date
11/17/2024 2:36:58 AM
(MENAFN) Egyptian Prime Minister Mostafa Madbouly stated on Saturday that the government is focused on maximizing the use of the country's assets, ensuring that none of them are wasted. During the celebration marking the return of the "Nasr Automotive Manufacturing Company" to production, Madbouly highlighted the directives of Egyptian President Abdel Fattah El-Sisi, who has emphasized the importance of prioritizing the industrial sector. He noted that expanding the automobile industry represents a significant opportunity for Egypt, capable of creating more jobs and generating a good return from previously underutilized assets.
Madbouly reiterated the government's belief in the value of public-private partnerships, particularly in large-scale projects. He described the return of the Nasr Automotive Manufacturing Company to production as a strategic decision for the state, emphasizing that the government was committed to ensuring the company's success and sustainability. The prime minister stressed that efforts were made to address and resolve the challenges that had previously hindered the company's operations.
Addressing the revival of the Nasr Automotive Company, Madbouly said that the government had made every effort to bring the company back to life, working diligently to prevent the recurrence of issues that had previously threatened its operations. He expressed confidence in the potential for the company to thrive once the necessary measures and improvements were put in place.
In addition, Madbouly held discussions with Deputy Prime Minister for Industrial Development, Kamel El-Wazir, regarding the plans to increase the local content of buses produced in Egypt, aiming to raise the percentage from 50 percent to 70 percent. He noted that Egypt has all the necessary resources to achieve this goal, further emphasizing the importance of establishing a factory for electric vehicle batteries to support the country’s automotive industry.
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