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Deputy Gendy urges factory revival strategy
Deputy Hazem Elgendy discussed in the Senate a draft strategy to deepen local manufacturing in Egypt, aimed at increasing the value of the local content and transforming the country into an industrial export hub. He emphasized that the industrial sector currently contributes 15% to the gross domestic product and faces challenges related to boosting productivity, financing costs, multiple procedures, weak links between scientific research and industry, as well as a shortage of trained technical workers. He called for launching a national plan to increase the local content percentage, establishing a fund to support technology, stimulating export industries, aligning technical education with market needs, and improving economic data. Additionally, he highlighted the importance of private sector participation in rescuing struggling factories.
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