Head of Industrial Development: We need to focus on high-tech industry to raise exports

Engineer Mohamed Abdel Karim, head of the Industrial Development Authority, stressed that the industry needs an industrial component with medium and high technology to raise the value and pattern of exports, rationalize imported imports, and deepen local manufacturing, as well as focus on industries that support the trend towards modern technology such as electronics, semiconductors and other sectors that can Leading national exports towards achieving the $100 billion target

During a session towards sustainable industrial development on the third and final day of the International Industry Forum and Exhibition, Abdul Karim added that the new industry strategy will be issued within 3 months and will take into account all the opinions sent by the chambers of industry, business and export councils, business associations and investors, noting that the industry during the recent period has received support Unprecedented, especially in light of the global crises of the Corona crisis and the Russo-Ukrainian war, the crisis of high and shortage of energy

He pointed out that global conditions can be a basis for increasing the local added value and working to expand the industrial base based on modern technology, and that the national industry has real opportunities despite the current challenges.

He stressed that the global crises alerted Egypt to the fact that we must not rely on the production requirements of the Egyptian industry and work to localize industries and components with technology, as it imports huge components from abroad worth billions of dollars annually, and pointed out that the industry needs concerted efforts from the Ministry of Trade and Industry and manufacturers during the coming period. .

The International Industry Forum focuses on supporting international, participatory initiatives between industrial and commercial entities at the regional levels: “Arab, African, Euro-Mediterranean, and international”, to achieve sustainable economic development, based on three main dimensions: (the investment and economic dimension, the social dimension and human-building, and the republic dimension new).

The exhibition aims to present prospects for the advancement and settlement of industry in light of economic challenges, to promote sustainable industry and support innovation through a stimulating environment for the development of industries and the development of mutual partnerships, and to display the strength of the Egyptian industry, which is one of the most important sectors of the economy, and to present the Egyptian development projects implemented by the state, including: (Presidential Initiative A “dignified life” for the development of the Egyptian countryside, land reclamation (the Toshka project and the new delta, desalination plants, new cities), and other major development projects, as well as attracting new industrial investments that serve the state’s efforts in the development process.

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