Advancing Industrial Development Through Modernization, Investment: El-Shemy

(MENAFN- Daily News Egypt) The Ministry of Public Enterprises Sector is advancing its efforts to develop the industrial sector within its affiliated companies and enhance their performance. Minister Mohamed El-Shemy affirmed that a comprehensive strategy is in place to modernize factories with advanced technology, revive key industries, and introduce new production lines and products. This initiative aims to strengthen production capabilities, enhance competitiveness, and improve the quality of locally manufactured goods to meet global standards. Ultimately, these measures will open new markets and increase exports in alignment with Egypt's Vision 2030 for sustainable development.

The ministry's plan emphasizes deepening local manufacturing, replacing imports with domestically produced alternatives, and maximizing the added value of products and raw materials. Operational efficiency is being improved across various sectors, with a strong focus on encouraging both local and foreign investment. Sustainability, occupational safety, and work environment enhancements are key priorities, alongside specialized workforce training to keep pace with global industrial advancements.

The public business sector has witnessed remarkable progress in recent years, leveraging its vast assets, capabilities, and economic influence to support national growth. During his speech at the Akhbar El-Youm Economic Conference, El-Shemy highlighted the private sector's crucial role in economic development through its expertise, investment capacity, and ability to drive innovation. He emphasized that public-private cooperation remains the most effective path to achieving sustainable progress. The ministry is actively strengthening partnerships and exploring new opportunities for collaboration in various industries through diverse investment and partnership models.

Several public-private partnerships are currently underway, including projects to modernize existing factories with advanced technology, revive specific industries, and introduce new products. Key initiatives include the national project for developing the textile industry, upgrading state-owned pharmaceutical companies, and investing in fertilizers, automotive manufacturing, aluminum, mining, phosphate-based fertilizers, construction, real estate, tourism, and hospitality.

The ministry's affiliated companies offer extensive investment opportunities, providing a solid foundation for expansion in industries such as heavy manufacturing, industrial processing, service sectors, renewable energy, and advanced technology. Egypt is well-positioned to achieve its ambitious economic goals under the leadership of President Abdel Fattah El-Sisi, with a clear vision for progress, growth, and prosperity. The ministry remains committed to strengthening partnerships with the private sector to drive industrial efficiency, attract further investment, and expand market reach in alignment with national sustainable development objectives, El-Shemy stated.

He stressed that with effective collaboration and synergy between the public and private sectors, challenges can be overcome, new opportunities can be seized, and a brighter future can be built for Egypt. Reaffirming this commitment, he emphasized that joint efforts will pave the way for sustained economic success.

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