The Minister of Industry discusses with World Bank officials enhancing cooperation to develop the industry

Industrial development represents one of the basic pillars for achieving sustainable economic growth, as industry contributes to enhancing the productive capacity of countries, expanding the export base, and providing job opportunities, in addition to its role in deepeninglocal manufacturing and raising the added value of national resources. In light of the rapid global economic transformations, international partnerships and exchange of experiences have become an important element in supporting industry development paths and enhancing the efficiency of infrastructure and technological capabilities.

From this standpoint, Egypt is moving to strengthen cooperation with international institutions to develop the industrial sector in line with global changes. International partnerships and exchange of experiences also represent one of the important paths to support the development of the industrial sector, allowing the benefit of specialized knowledge and data, and contributing to building an industrial system capable of keeping pace with the requirements of the global economy and promoting the path of sustainable development.

Enhancing industrial cooperation with the World Bank

In this context, Engineer Khaled Hashem, Minister of Industry, held a meeting with Mr. Abdel Aziz Al-Mulla, Executive Director of the Arab Countries Group at the World Bank, and Ambassador Hisham Seif El-Din, Alternate Executive Director of the Arab Countries Group at the World Bank, to discuss ways to enhance cooperation between Egypt and the World Bank in the field of industry and infrastructure for industrial zones.

National Strategy for the Development of Egyptian Industry

At the beginning of the meeting, the Minister confirmed that the Ministry is currently reviewing the national strategy for developing Egyptian industry, which it developed in cooperation with the World Bank, especially with the current regional and global changes.

The Minister also pointed out that the Ministry will seek the support of the World Bank in providing accurate data and information in the fields of industry and technologies used in the industrial sector, as the Ministry is currently seeking to identify 5 main industries and 5 feeder industries to focus on during the current stage, and this will only be possible with accurate data that helps the decision maker to make an informed decision, which intersects with Goal (17) of the Sustainable Development Goals (SDGs) related to establishing partnerships to achieve the goals.

Developing industry and enhancing the industrial investment environment

The Minister also noted that the Ministry is working to develop mechanisms for making industrial lands available to investors by preparing industrial maps that identify strategic industries and feeder industries appropriate for each region, which contributes to directing investments towards priority sectors and enhancing economic growth opportunities.

This step also aims to provide industrial lands accompanied by attractive incentive packages, in addition to intensifying promotional efforts to attract major companies to invest in Egypt, in line with achieving the Sustainable Development Goals (SDGs), especially Goal (8) related to providing decent work and achieving economic growth.

Within the framework of supporting the industrial development path, the Ministry pays attention to strengthening the research and development system through the Industrial Modernization Center, in addition to working to link the outputs of scientific research with the needs of the industrial sector.

This includes establishing technological complexes within universities and research centers, and making available a national database for industrially applicable research and innovations, which contributes to transforming knowledge into productive applications that support added value within the national economy, in line with the Sustainable Development Goals (SDGs), especially Goal (9) concerned with developing industry, innovation, and infrastructure.

Developing industry through skills development and enhancing financing

The Minister pointed out the possibility of cooperation between the Ministry and the Bank in a number of axes, the most important of which is supporting industry development efforts through developing the skills of the human element and raising the efficiency of industrial workers through training and qualification programs in cooperation with local and international institutions, in a way that helps keep pace with accelerating technological transformations, especially in light of the global trend towards digital transformation and the use of artificial intelligence in industrial processes.

The Ministry is also adopting new mechanisms to support financing industrial projects, including the establishment of industrial investment funds to direct financing to promising projects and increase their production capacity.

In the same context, work is underway to support strategic industries and deepen local manufacturing in cooperation with the private sector, which contributes to enhancing Egyptian exports and achieving sustainable economic growth in line with Sustainable Development Goals (SDGs).

Enhancing cooperation with the private sector

Engineer/ Khaled Hashem, Minister of Industry, stressed the importance of cooperation with the private sector (the Federation of Egyptian Industries and Chambers of Industry) as it is a key partner in achieving the state’s goals for industrial development, pointing out that the Ministry is currently focusing on a group of industrial initiatives and programs such as the National Program for the Development of the Automotive Industry, through which the Ministry aims to reduce dependence on car assembly, transfer to actual manufacturing, and deepen the local industry, noting that the Ministry aims to double the volume of Egyptian exports by the year 2030.

For his part, Mr. Abdel Aziz Al-Mulla, Executive Director of the Arab Countries Group at the World Bank, affirmed his keenness to support Egypt’s position, as the group represents the Arab countries on the World Bank’s Board of Directors, expressing the group’s readiness to support the Ministry with regard to qualifying industrial workers and increasing job opportunities.

In conclusion,The Earth Guards Foundation appreciates the efforts made in developing the industrial sector given that it constitutes a basic basis for sustainable economic growth, by enhancing production capacity, deepening local manufacturing, and expanding the export base, stressing the importance of innovation and linking scientific research to the needs of the industrial sector, in addition to developing infrastructure and providing attractive investment packages, which contribute In attracting major companies and promoting a decent work environment.

In addition to the role of human skills development, sustainable financing mechanisms, and partnerships with the private sector and international institutions in supporting the industry’s development path. These efforts reflect their compatibility with the goals of sustainable development, especially economic growth and decent work, industry and innovation, and establishing partnerships to achieve the goals, to establish a strong and sustainable industrial base.