Wednesday 18/February/2026 – 07:11 PM
Engineer Khaled Hashem, Minister of Industry, confirmed that the Ministry is currently working to deepen local manufacturing andIncreasing the proportions of the local component Within production chains, which contributes to raising the competitiveness of the Egyptian product and reducing the import bill.
Reducing the import bill
The Minister explained that these efforts aim to support the balance of payments and enhance the capabilities of the national economy, stressing that the next stage will witness close coordination with the export councils to develop rapid implementation solutions for each industrial sector separately.
Hashem indicated, during a meeting with the heads of 13 export councils and Minister of Investment Mohamed Farid, that the main goal is to enable factories to expand and raise production capacities with higher quality and a more competitive cost to access international markets.
He stressed that integration between industrialization policies and export development represents a fundamental focus for achieving higher added value, which contributes to increasing the industrial sector’s contribution to economic growth and creating new job opportunities in the coming years.
