Back to the complete issue
Monday, 25 January 2021

An industrial shake-up?

Egyptian policymakers need to shake up the country’s industrial sector and put into place a new industrial policy to kickstart economic activity, Beltone Financial executive chairman and capital markets veteran Maged Shawky in an interview with Al Arabiya (watch, runtime: 06:49). Egypt’s large industrial sector already plays an important role in terms of trade and economic growth, but a reorientation of policy towards providing more financial and logistical support, especially when it comes to small-scale, labor-intensive, and export-oriented factories, will better serve the sector, Shawky said.

Digitization and data: As Egypt pushes on with post-IMF structural reform, it’s important to make use of existing tech infrastructure to enable growth in the country’s data, server hosting, and cloud infrastructure sectors, Shawky said. With enough government support, progress in those areas would be key to successful structural reform, he added. Those sectors are being discussed everywhere now, and Shawky believes that, down the line, they’ll be as influential to economic growth as oil prices.

Have you been reading Hardhat? We recently took a deep-dive into Egypt’s data center landscape in part 1 of a three-part series examining Egypt’s potential to emerge as a regional hub for data centers.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.