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Sheikh's Industry Fund Supports Local Factory Revival
Deputy Michel Al-Jamal stated that the Council of Ministers has approved the establishment of an investment fund for restructuring and financing distressed factories in Egypt, with the aim of restarting their operations and supporting the vital industrial sector. The fund will focus on providing financing and conducting administrative and financial restructuring of factories, especially in sectors such as food, engineering, and pharmaceuticals, to increase production and promote local manufacturing. Success will require effective coordination among relevant authorities, along with clear criteria for selecting targeted companies, in order to achieve maximum economic returns, support the sustainability of factories, and reduce reliance on imports, thereby contributing to the national economy.
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