Egyptian President Abdel Fattah al-Sisi has instructed for the ongoing endeavors to establish a conducive environment for heavy industries, with particular emphasis on the iron and steel sector.
The President’s directives were given during a meeting with General Ahmed El-Shazly, Chairperson of the Armed Forces Financial Affairs Authority, and General Walid Abu El-Magd, Director General of the National Service Projects Organization (NSPO). Also present was Major General Imad El-Kayal, the Chairperson of the Egyptian Steel Company.
Ahmed Fahmy, the spokesperson of the Egyptian presidency, conveyed that the meeting revolved around the progress of projects linked to the iron and steel industry within Egypt.
This initiative aligns with Egypt’s strategic plan to enhance its heavy and strategic industrial manufacturing system. Deliberations encompassed strategies to boost local manufacturing, augment competitiveness and export capabilities, and address logistical hurdles.
The President underscored the pivotal role of heavy industries in the nation’s comprehensive development efforts, emphasizing its contribution to alleviating pressure on foreign currency reserves.
President Al-Sisi further directed authorities to take comprehensive measures to bolster the growth of heavy industries. This includes facilitating essential financing and infrastructure support to ensure their progress.
