Engineer Mohamed Salah El-Din Mustafa, Minister of State for Military Production, chaired the meetings of the general assemblies of companies and units affiliated with the Ministry of Military Production, which were held over a period of (3) days to present the final accounts of the companies and affiliated units for the fiscal year (2023-2024).
During the general assemblies, the Minister of State for Military Production reviewed the companies’ performance rates in terms of (activity revenues, completed production, net sales, finished production inventory, number of employees, wages, raw materials and materials, account summary). Revenues and expenditures, activity indicators).
During the discussions, Minister Mohamed Salah was keen to To issue explicit directives to the heads of the boards of directors of companies and affiliated units on the necessity of working to make optimal use of the available technological capabilities, material and human resources, and raise performance levels to provide more effort, achieve the best results in the future, and increase productivity, Emphasizing the need for concerted efforts to achieve cooperation and integration between companies and each other, taking care to rationalize expenses in all their forms and apply the principles of governance in all sectors of the companies and affiliated units to ensure that the assets owned by the Ministry are managed with high efficiency and that any attempts to infringe on them are addressed in advance.
The Minister also stressed the importance of accelerating the implementation of development projects in companies and affiliated units and adhering to the timetable specified for the implementation of these projects in order to ensure It is reflected in maximizing the achieved returns and increasing the contribution to the national economy, stressing that companies and units implement the contracts signed with all parties at the specified times with the high quality expected from military production.
The Minister stressed State Military Production To maintain the safety of the human element, which is the most important element in the production process The Ministry is the first pillar of military industrialization and one of the most important industrial arms of the state, and this role will not be completed except with the efforts and hands of the dedicated members of military production to advance the wheel of production and development and keep pace with the latest technologies in the various fields of manufacturing.
< p>During the meetings, the Minister pointed out the negative repercussions of recent global events on the global economy, energy and food prices, and supply chains, and their obstruction of economic recovery efforts, but the Egyptian state is making unremitting efforts to achieve balance in the labor markets. And to contain the negative effects of these global challenges and support citizens and affected parties, it was therefore necessary for the Ministry of Military Production, as a national industrial body with a great history of achievements, to work with every effort to localize modern manufacturing technologies in its companies and affiliated units and increase the proportions of the local component in its products in order to save free currency and reduce the bill. Importation.
At the conclusion of the general assemblies, performance development indicators for companies and affiliated units in relation to revenues in the year were calculated. (2023/2024) by 144%, with a growth rate of 44% over the year (2022/2023).
