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Asharq Al-Awsat
Asharq Al-Awsat
Business
Cairo - Asharq Al-Awsat

Egypt to Develop Local Industry, Encourage Modern Technologies

Egypt CAPMAS
A worker at a textiles factory in Egypt. (Reuters)

Egypt's Ministry of Trade and Industry will focus on developing the local industry, increasing the proportions of the local component, providing raw materials and production requirements, encouraging modern technologies, and localizing several sectors.

Newly-appointed Trade and Industry Minister Ahmed Samir said the ministry would work to restore the status of Egyptian products, develop existing industries, and attract investments to implement new industrial projects which cater to the needs of the Egyptian market.

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