Parliamentarian: Supporting local industry is a strategic step towards enhancing national production and increasing exports
Representative Hala Abu Al-Saad, Undersecretary of the Small and Medium Enterprises Committee in the House of Representatives, praised Prime Minister Dr. Mostafa Madbouly’s announcement of allocating 30 billion pounds to support industry in Egypt over the next five years, stressing that this represents an important strategic step that contributes to enhancing local production and providing Equipment and technology necessary to develop factories to serve the country’s national economy.
Representative Hala Abu Al-Saad explained in a statement today that the Egyptian state is making great efforts to support the local industrial sector, resettle it, and work to Increasing its competitiveness in local and global markets, enhancing exports and reducing dependence on imports, it also ensures the creation of new job opportunities, which increases the resilience of the economy in the face of external shocks.
The representative of the Small and Medium Enterprises Committee in the House of Representatives said: Supporting and localizing industry plays a crucial role in achieving sustainable economic development and strengthening the national economy, and contributes to reducing dependence on a single source of income, which increases the flexibility of the economy in the face of global changes and improves the standard of living of citizens.
Rep. Hala Abu Al-Saad indicated to Supporting the local industry also contributes to achieving self-sufficiency and achieving food and energy security, which works to encourage industries that rely on renewable energy sources and clean technology, which contributes to preserving the environment and achieving sustainable development, as well as enhancing the country’s position in the global economy.
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