Mostafa Madbouli stresses importance of expanding local manufacturing and boosting reliance on Egyptian raw materials

Cairo – Ahmed Sabri: Dr. Mostafa Madbouly, Prime Minister, emphasized the importance of expanding local manufacturing and enhancing reliance on Egyptian raw materials across various industries, thereby contributing to the provision of high-quality products at competitive prices, reducing the import bill, and lowering demand for foreign currency. He noted that increasing the local content in industrial products represents one of the key pillars for supporting the national economy.

This came during the Prime Minister’s tour, accompanied by his entourage, yesterday of the investment zone in Mit Ghamr, where Madbouly inspected an exhibition of products from several projects and companies operating in the area. The visit aimed to review the nature of the products and diverse industrial activities within the zone, as well as the stages of manufacturing and production, the extent of reliance on local components and raw materials, production volumes, and opportunities for expanding exports to external markets.

For his part, Dr. Mohamed Fared Saleh, Minister of Investment and Foreign Trade, clarified that investment zones play a pivotal role in providing sustainable employment opportunities for residents of governorates close to their places of residence. This positively impacts citizens’ living standards and helps curb internal migration to major cities in search of jobs, while also enhancing the utilization of expertise, human resources, and production capacities available in each governorate.