Trade and industry have been a top priority for the Egyptian administration over the last seven years, since July 2014.
Cairo- June 9, 2021
The Egyptian administration, under President Abdel Fattah al-Sisi, has always given trade and industry extraordinary attention over the last seven years. This special interest has had the largest impact on bolstering Egypt's trade and industry levels.
Many successes in the industrial sphere have been realised thanks to the continuing efforts of the Ministry of Trade and Industry (MTI), in terms of legislation, new investments, horizontal and vertical development of industrial cities, and outstanding export levels in all manufacturing sectors.
MTI has established 3 new industrial cities and 17 complexes for small industries in 15 governorates, with investment cost worth LE10 billion.
Moreover, it has granted operating licenses to 48,989 new facilities and approval for expansions to 17,000 manufacturing projects at an investment cost of LE44 billion, offering 140,000 direct jobs.
Likewise, the president's endeavors have contributed to achieving upbeat foreign trade indicators. Exports have since been on an upward trend, with imports slightly falling and the trade deficit improving.
During the seven-year period, Egypt successfully joined the African Continental Free Trade Agreement and the Mercosur, started talks for an FTA with the Eurasian Union and signed a partnership agreement with Britain.