Minister of Planning and Economic Development: Egypt's car industry jumps 50%, economy grows by 5.1%
Cairo – Nadeh Imam: Dr. Ahmed Rustom, Minister of Planning and Economic Development, participated in the events of the “African Automotive Sector Investment Forum,” held as part of the first edition of the “Alamein–Africa 2026” forum. The event saw high-level government participation, including Dr. Badr Abdelatty, Minister of Foreign Affairs and International Cooperation and Egyptians Abroad; Dr. Mohamed Fared, Minister of Investment and Foreign Trade; and Eng. Khaled Hashem, Minister of Industry, alongside the attendance of approximately 1,500 African business leaders and investors. The forum was jointly organized with the African Export–Import Bank (Afreximbank).
During the session, Dr. Ahmed Rustom presented positive indicators for the industrial sector, revealing that the noticeable improvement in the performance of productive sectors had a direct impact on strategic industries. Specifically, the “motor vehicle manufacturing” sector recorded exceptional growth, surging by approximately 50% during the first quarter of the 2025/2026 fiscal year.
The Minister of Planning and Economic Development emphasized that this leap is part of strong and comprehensive growth in non-petroleum manufacturing industries, reflecting the positive and rapid impact of structural reforms in strengthening the productive base and creating an attractive investment environment in the automotive sector capable of meeting local needs and accessing African markets.
At the macroeconomic level, the Minister of Planning and Economic Development clarified that the growth trajectory is showing tangible improvement, with the GDP growth rate rising to 5.1% during the 2025/2026 fiscal year, compared to 4.4% in the previous year. He noted that this recovery was driven by strong performance in productive sectors (industry, telecommunications, and trade), which collectively contributed approximately 48% of the total growth achieved.
Dr. Rustom attributed this performance to strict adherence to the implementation of the “Economic Reform Program,” which focuses on enhancing competitiveness, expanding the role of the private sector in the economy, and directing support toward high value-added sectors with export potential.
Concluding his remarks, the Minister of Planning and Economic Development highlighted the integrated government efforts, pointing out that the Ministry of Investment and Foreign Trade has launched a broad package of structural and institutional reforms aimed at updating legislative and regulatory frameworks to improve the business climate, enhance the quality of foreign direct investment, and achieve the desired integration between public and private investments, thereby contributing to transforming Egypt into a leading regional hub for automotive manufacturing and export in the African continent.
