Egypt’s Trade and Industry Minister Tarek Kabil said on Saturday that the government is working to boost the national industry، foremost، the iron industry in the past two years.
During his inspection tour in 6th of October Industrial Zone، Kabil said that 12.5 million square meters were allocated in 2017 to cooperate with industrial developers، adding that 8 million meters were added in 2018 to the allocated land for industrial developers.
He said that according to Egypt's plans to raise exports to $34 billion from $19 billion by 2020، Egypt’s exports hit $22.4 surging to 12% increase while the imports were reduced after the gap was met by domestic production.
He pointed out that the production capacity of private factories is constantly rising، coinciding with the increase in exports and the decline in imports.
Kabil pointed out that he will meet with President Sisi on Monday، during which he will discuss a number of important projects.