Learn about the government's moves to deepen and benefit from the local component

Accidents

The government has been developing a strategy to deepen the domestic component of the industry during the past few days, during intensive meetings with a number of stakeholders. Most notably the Small and Medium Enterprises Development Authority, a number of industry leaders and the heads of large companies operating in Egypt.

The government considered the issue of increasing the local component of the industry to be a matter of life or death for the government, which requires reaching the formulation of an integrated strategy to be implemented within a short period.

We monitor what the Government is working on to develop its strategy:

– The government aims to increase the domestic component of industry and reduce the import of production inputs by producing those inputs domestically

– This is reflected in the provision of foreign currency, and the treatment of imbalance in the balance of trade, as well as the provision of employment opportunities.

– The government has entrusted the Small and Medium Enterprises Development Authority with the task of encouraging small investors to establish workshops and small factories that produce inputs and components for manufacturing, as in Europe and the United States.

– It was agreed to hold a series of separate meetings, starting within a week for each industry division, to hear proposals from representatives of each division to deepen the local industry