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What has the government done with regard to import substitution and local products?


There is special interest from the government in the file of supporting the national industry to increase reliance on it in the file of import substitution and replacing them with nationally made products, and for this, President Abdel Fattah El-Sisi met this week with Dr. Mustafa Madbouly, Prime Minister, and Nevin Jamea, Minister of Trade and Industry.


What happened in this file?

 

The state is trying to increase the encouragement of reliance on the national industry, in order to bridge the gap between exports and imports, and achieve self-sufficiency in local products, while in this regard preparing a comprehensive commodity inventory for products that can be relied on locally manufactured and by promoting industrial investment in conjunction with the experiences of the private sector working in Egypt Of those with distinguished experience, as well as the use of the expertise of technological research centers to raise the efficiency of local manufacturing.


The state is working on the import substitution file to deepen local manufacturing and encourage dependence on national industry, in cooperation and coordination with all concerned government agencies, in various industrial sectors, including engineering industries, auto components, household appliances products, chemical industries, plastic products, and other industries. Yarn, fabrics, and clothing.


Cooperation is taking place with the Central Bank within the framework of financing programs for import substitution and industry support, in addition to the ministry's efforts to enhance joint cooperation with some international donors to contribute to the transfer of production technology and support a number of industrial sectors related to achieving the sustainable development goals, including the United Nations Industrial Development "UNIDO", as well as the German Agency for International Cooperation, which is a joint cooperation aimed at developing integrated industrial cities and enhancing manufacturing processes for national products that are able to compete in international markets.

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