Advancing industrial development through modernization, investment: El-Shemy
The ministry's plan emphasizes deepening local manufacturing, replacing imports with domestically produced alternatives, and maximizing the added value of products and raw materials. Operational efficiency is being improved across various sectors, with a strong focus on encouraging both local and foreign investment. Sustainability, occupational safety, and work environment enhancements are key priorities, alongside specialized workforce training to keep pace with global industrial advancements.
The public business sector has witnessed remarkable progress in recent years, leveraging its vast assets, capabilities, and economic influence to support national growth. During his speech at the Akhbar El-Youm Economic Conference, El-Shemy highlighted the private sector's crucial role in economic development through its expertise, investment capacity, and ability to drive innovation. He emphasized that public-private cooperation remains the most effective path to achieving sustainable progress. The ministry is actively strengthening partnerships and exploring new opportunities for collaboration in various industries through diverse investment and partnership models.
Several public-private partnerships are currently underway, including projects to modernize existing factories with advanced technology, revive specific industries, and introduce new products. Key initiatives include the national project for developing the textile industry, upgrading state-owned pharmaceutical companies, and investing in fertilizers, automotive manufacturing, aluminum, mining, phosphate-based fertilizers, construction, real estate, tourism, and hospitality.
The ministry's affiliated companies offer extensive investment opportunities, providing a solid foundation for expansion in industries such as heavy manufacturing, industrial processing, service sectors, renewable energy, and advanced technology. Egypt is well-positioned to achieve its ambitious economic goals under the leadership of President Abdel Fattah El-Sisi, with a clear vision for progress, growth, and prosperity. The ministry remains committed to strengthening partnerships with the private sector to drive industrial efficiency, attract further investment, and expand market reach in alignment with national sustainable development objectives, El-Shemy stated.
He stressed that with effective collaboration and synergy between the public and private sectors, challenges can be overcome, new opportunities can be seized, and a brighter future can be built for Egypt. Reaffirming this commitment, he emphasized that joint efforts will pave the way for sustained economic success.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
20 hours ago
- See - Sada Elbalad
Turkey's KCG Textile Launches $24 Million Expansion in Egypt's 10th of Ramadan Industrial Zone
Nada Mustafa Turkish textile company KCG has announced a new $24 million investment in Egypt's 10th of Ramadan Industrial Zone, continuing its long-standing operations in the country. The groundbreaking ceremony, held on July 6, 2025, was attended by Egypt's Minister of Foreign Trade and Investment, Hassan El-Khatib, Chairman of the General Authority for Investment and Free Zones (GAFI), Hossam Heiba, and Turkish Ambassador to Cairo, Salih Mutlu Şen. KCG's latest investment is expected to create approximately 500 new jobs for Egyptians, bringing the company's total workforce in Egypt to around 2,300. The new factory is scheduled to begin operations in October 2025. KCG, which has been operating in Egypt since 2007, currently employs around 1,800 Egyptians and produces a wide range of textile products, including window fabrics, bed linens, decorative pillow covers, tablecloths, upholstery fabrics, shower curtains, and garment textiles. The company has sales offices in United States (US), United Kingdom (UK), China, Turkey, and Egypt. With a total investment in Egypt reaching $65 million, KCG aims to increase its annual export value to $100 million. The new investment will also include the production of apparel items for global brands and markets. During the ceremony, speeches were delivered by El-Khatib, Şen, and KCG owner Yılmaz Küçükçalık. For his part, Turkish Ambassador welcomed the expansion of Turkish investments in Egypt, highlighting the geographical, cultural, and social proximity between the two countries, as well as the strength of their transportation networks and Egypt's favorable investment environment. Moreover, he emphasized that the natural and strategic ties between Egypt and Turkey make Egypt a key destination for Turkish investors. Şen also added that bilateral trade and Turkish investment in Egypt will continue to grow, calling this development 'inevitable.' Furthermore, Turkish ambassador noted that free trade agreements and shared infrastructure mean Turkey is set to remain among Egypt's top three foreign trade partners. He also stressed the importance of peace, stability, and development in the region, underlining that economic cooperation remains a priority for Turkey's approach toward Egypt. In conversations with El-Khatib, Şen praised the efficiency of Turkish companies in launching their operations, with El-Khatib agreeing and noting the high speed and quality associated with Turkish investments. Looking ahead, KCG also plans to launch a new investment in Egypt in 2026, further deepening its presence and contribution to Egypt's textile industry. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News Flights suspended at Port Sudan Airport after Drone Attacks News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
CairoScene
21 hours ago
- CairoScene
KAFD Skywalks Sets Guinness World Record for Longest Pedestrian Skyway
Riyadh's KAFD Skywalks just claimed a Guinness World Record, stretching 15.46 km to become the world's longest continuous pedestrian skyway. The King Abdullah Financial District (KAFD) in Riyadh just added a world record to its name. Its futuristic Skywalks have officially been recognised by Guinness World Records as the longest continuous pedestrian skyway in the world, measuring 15.46 km. The Skywalks connect 95 buildings within KAFD, allowing pedestrians to navigate the district in shaded, climate-controlled comfort. It's a central feature of KAFD's larger sustainability and smart mobility goals, designed to reduce reliance on cars and support eco-conscious urban living. The elevated walkway represents a major architectural and engineering feat, contributing to KAFD's ambition to be a global model for future-ready cities. Developed by the King Abdullah Financial District Development and Management Company, the project is part of Saudi Arabia's Vision 2030 agenda, aligning with broader goals for sustainability, innovation, and liveability.
Mid East Info
3 days ago
- Mid East Info
TASC Slashes Tech Hiring Time in Saudi Arabia with Launch of Tech Vertical AIQU - Middle East Business News and Information
Saudi Arabia's Vision 2030 is driving a significant surge in demand for technology talent, especially in AI and machine learning. However, many companies face challenges such as lengthy hiring processes, high costs, and limited flexibility, which cause delays that put critical digital projects at risk. Overcoming these obstacles is essential to sustaining the Kingdom's fast-moving digital transformation. AIQU, powered by workforce solutions provider TASC, builds on its established presence in Saudi Arabia by introducing innovative solutions like Deploy-on-Demand, which is designed to cut tech hiring timelines by up to 50%. With a proven track record in Tech Talent, Statement of Work, Digital, and Managed Services, AIQU continues to evolve to meet the Kingdom's growing demand for agile workforce solutions. They enable clients to rapidly fill specialized roles while handling iqama, payroll, compliance, and onboarding, providing pre-verified talent ready to deploy within 2 to 6 weeks, compared to the market average of 3 to 6 months. This innovative solution is already supporting public sector digital programs, banking and fintech transformations, global consultancies, and rapidly scaling SAP and ERP projects across the Kingdom. Tackling the Tech Talent Shortage Industries such as cloud computing, AI, and cybersecurity are expanding faster than available talent can keep pace, creating an urgent tech crunch in Saudi Arabia. Roles like cloud architects, SAP consultants, and data engineers are in high demand, but local expertise remains limited. For specialized skills such as OT/ICS security or data governance, the talent gap is even more pronounced. AP consulting roles, for example, have a local talent shortfall of up to 40%. Traditional hiring methods are often too slow and rigid to meet these evolving needs. 'Many businesses simply cannot afford the three to six-month hiring cycles associated with conventional recruitment or global system integrators,' says Tim Harlow, Head of AIQU. 'Critical transformation projects cannot wait, yet the complexity of the Saudi recruitment market makes speed challenging. Vision 2030's momentum has created an enormous opportunity for organizations able to close their talent gaps quickly.' System integrators add further cost and complexity with approval processes and onboarding delays, making these models less sustainable. 'Cost, speed, and flexibility are the three pillars every client struggles with. Existing models are too rigid for today's dynamic projects,' Taha Esmail, VP – AIQU added. Deploy-on-Demand: A Faster, Flexible, and Cost-Effective Solution AIQU's Deploy-on-Demand model is built to overcome these challenges by offering pre-verified, project-ready tech talent mobilized up to 70% faster than traditional hiring models. Clients submit role requirements tied to project deliverables, and AIQU matches candidates from a continuously refreshed bench of regional and international professionals. The service also manages full onboarding, including iqama, payroll, compliance, and Saudization requirements, ensuring faster time-to-productivity and regulatory alignment. Beyond speed, AIQU's approach delivers significant cost savings, typically 30% to 50% compared to traditional system integrators, by cutting multilayered consulting overheads and providing transparent pricing. 'Clients want agility. We enable them to scale teams up or down based on project phases without the cost and complexity of long-term headcount commitments,' said Pinky Mistry, VP – AIQU. With multiple Vision 2030 initiatives moving into execution phases, demand for specialized tech expertise will only intensify. To meet this need, AIQU is expanding its pipeline of Arabic-speaking professionals, partnering with local training academies, building offshore development centers and growing its presence across the Kingdom. 'Vision 2030's momentum has created a massive opportunity for those who can close talent gaps fast. Our focus is on giving clients the agility they need to keep pace with this transformation,' concludes Tim.
