Military production and investment discuss ways to enhance cooperation to achieve economic development
Economic development is considered an essential pillar for building an economy more capable of growth and sustainability, by enhancing production, expanding the investment base, and supporting the competitiveness of national sectors. In this context, efforts are continuing to enhance integration between relevant national institutions in support of investment and production, and to develop joint cooperation mechanisms in a way that supports unifying visions and taking advantage of the available capabilities to achieve the state’s economic goals.
These efforts come in light of the increasing trend towards maximizing the role of national institutions in supporting industry, localizing technology, and increasing the added value of local products, which contributes to creating a more attractive environment for investments, and opening new paths for economic growth based on production and innovation.
From this standpoint, Dr. Salah Suleiman Jumblatt, Minister of State for Military Production, received Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, at the headquarters of the Ministry of Military Production in the New Capital, in the presence of Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones, and a number of leaders and officials of the two ministries.
This comes to discuss mechanisms for enhancing joint cooperation between the two ministries by benefiting from the national capabilities of military production companies and units, in a way that contributes to attracting investments, enhancing local manufacturing, and supporting comprehensive and sustainable economic development in the country.
Dr. Salah Suleiman Jumblatt, Minister of State for Military Production, began the meeting by welcoming the Minister of Investment and Foreign Trade, reviewing the most prominentThe activities and fields of work of the Ministry, and the advanced manufacturing, technological and technical capabilities of affiliated companies and units.
Emphasizing that the Ministry of Military Production possesses an advanced national industrial base and accumulated experience that qualifies it to play its primary role, in addition to benefiting from surplus production capacities in manufacturing high-quality civilian products and actively participating in the implementation of various national projects, in a way that supports the achievement of the national economic development process.
This approach is consistent with the Sustainable Development Goals (SDGs), especially the ninth goal related to industry, innovation, and infrastructure, by supporting local manufacturing and developing productive capabilities, in addition to the eighth goal on decent work and economic growth by enhancing investment opportunities and expanding the production base.
Supporting the national economy by strengthening partnerships
The Minister of Military Production indicated that the ministry’s work strategy is based on strengthening cooperative partnerships with various state institutions and the private sector, which contributes to attracting new investments, localizing the latest manufacturing technologies, increasing the proportion of the local component, and supporting the national economy.
Pointing out that the current stage requires enhancing integration between all sectors and state institutions to achieve the desired sustainable development and enhance the competitiveness of Egyptian industry, in implementation of the directives of His Excellency Mr. President Abdel Fattah El-Sisi, President of the Republic, to build a strong national economy more capable of growth and sustainability and based on production, competitiveness and innovation.
There is no doubt that strengthening industrial partnerships and localizing technology contributesSignificantly in supporting more efficient and sustainable production patterns, in line with the twelfth goal of the Sustainable Development Goals (SDGs) on responsible consumption and production, by maximizing the use of national resources and increasing the added value of local products.
Supporting economic development and attracting investments
For his part, Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, confirmed that this meeting embodies the state’s trend towards integrating roles between various government agencies, which contributes to supporting industrial development and creating an environment more attractive to local and foreign investments, and enhances economic growth and provides job opportunities.
The Minister stressed the importance of maximizing benefit from the investment map as it is a major platform for promoting investment opportunities, especially industrial opportunities that can be implemented in partnership with companies.And military production units, updated periodically and made available to investors in a professional manner, in a way that supports the localization of modern industries and increases the local component.
The two sides agreed to continue joint coordination to develop executive mechanisms for the areas of cooperation that were discussed, in a way that enhances the benefit of national industrial potential, and supports the state’s efforts in attracting investments, increasing the competitiveness of the Egyptian economy, and achieving sustainable economic development.
This cooperation between national institutions reflects the importance of partnerships to achieve sustainable development, in line with the seventeenth goal on establishing partnerships to achieve goals, by unifying efforts between different parties to support the economy and enhance its ability to confront changes.
In conclusion, the importance of cooperation between my ministries goes beyondMilitary production, investment, and foreign trade are the limits of institutional coordination, to open a more integrated path between national industrial capabilities and investment needs, which helps transform available capabilities into expandable production opportunities, thus enhancing the state’s ability to direct investments towards value-added sectors, support the localization of technology, and increase reliance on the local component, which raises the competitiveness of Egyptian industry and enhances its ability to respond to economic changes.
For its part, The Earth Guards Foundation appreciates the continued coordination between national institutions to develop clear implementation mechanisms, to contribute to building an environment that combines industrial infrastructure readiness, the efficiency of promoting investment opportunities, and support for the private sector, in a way that expands the production base and creates new opportunities for growth, work, and achieving Sustainable Development Goals (SDGs).
