The industrial sector is the engine of economic development in Egypt, through domestic demand and supporting export growth, so that Egypt becomes an active player in the global economy, able to adapt to global changes.
The industrial sector occupies the first place, according to the reports of the Ministry of Planning and Economic Development, in terms of contributing to the gross domestic product with a share of no less than 16%, in addition to employing a percentage of the workforce that exceeds 15% of the total, as well as increasing the sector’s contribution to export activity by up to 85% of the total non-oil merchandise exports, which qualifies it to exchange the first place with the remittances of Egyptians working abroad in the list of main sources of foreign exchange generating.
On the main objectives of the 2023/22 plan, a report by the Ministry of Planning and Economic Development said that it is estimated that industrial production, including petroleum refining, will rise from about EGP 2984.7 billion to about EGP 3405.3 billion, achieving a growth rate of 14.1%. The industrial sector during the year 22/2023 reached about 1357.9 billion pounds, compared to about 1176.8 billion pounds in the previous year, an increase of 15.4%.
The report indicated that investments of about 93.5 billion pounds were directed to the manufacturing sector during the current fiscal year 2023/2022, an increase of 6.1% over the corresponding investments in the previous year. Non-oil manufacturing industries account for about 80% of the sector’s total investments (74.1 billion pounds). While the petroleum manufacturing industries occupy the remaining 20% (19.4 billion pounds).