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Wednesday, 2 June 2021

Your rundown on the industries the gov’t thinks are priorities going forward

The Sisi administration has a new basket of structural reforms in the pipeline — and these are the industries most likely to benefit, based on an Ittihadiya readout (pdf) of a meeting the president held yesterday with Prime Minister Moustafa Madbouly and the ministers of planning, finance, CIT, agriculture, and trade and industry. The readout says the discussion focused on the second phase of economic and social reforms the administration plans to enact.

Among the business-relevant highlights:

  • Priority industries include “tech-intensive manufacturing,” agriculture, and communications and IT, where the government is looking to boost exports, create jobs and encourage the growth of SMEs. The statement singled-out the rising contribution of “high-tech products” in Egypt’s exports;
  • Transportation and logistics infrastructure is at the top of the priority list alongside financial inclusion and the rollout of more fiber-optic cables nationwide;
  • Agriculture got a lot of attention. Policymakers are looking to create jobs and grow agri exports while also driving “digital transformation” in the industry;
  • Look for new investments in technical and vocational education as well as the healthcare system;
  • Continued strengthening of the social safety net, which will likely see add-ons or adjuncts to the successful Takaful and Karama programs.

Bringing more government services online and investing in tech education are also priorities, the readout suggested, adding that the green economy and clean energy “remain of primary importance,” alongside the development of the country’s manufacturing infrastructure.

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