President Abdel Fattah Al-Sisi followed up on the state’s efforts to localise the construction materials industry in partnership with the private sector on Wednesday.
Al-Sisi met with Commander of the Strategic Leadership and Supervisor of Military Industrialisation Ahmed Khaled, Head of the Armed Forces’ Financial Affairs Authority Ahmed Al-Shazly, Adviser to the President of the Republic for Urban Planning Sayed Ahmed, and Head of the Engineering Authority of the Armed Forces Hisham Al-Sweifi in the presence of a group of businessmen from the private sector.
According to Presidential Spokesperson Bassam Rady, Al-Sisi directed mobilising all the productive capabilities of the state — whether governmental or private — in order to ensure the success of the localisation process.
This comes in light of the huge volume of construction works nationwide, which opens the way for the prospects of owning industrial capacities based on innovation and development with local capabilities to bridge the import gap and provide foreign currency by meeting the needs of the development process of locally manufactured products.
Egypt has several projects in the New Administrative Capital (NAC), which is part of a grand Egyptian programme for fourth generation smart cities with low-carbon emissions.
The country also plans to up its green investments from 40 to 50% of the state’s total investments by FY2023/24.
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