Egypt to launch national industrial strategy on October 25

Egypt is set to launch on October 25 its national industrial strategy in cooperation with an international company, reports say.

Ahmed Samir, the North African country’s Minister of Trade and Industry told “Asharq Business” that the strategy includes all industrial hubs, linking the Egyptian industry with industrial sector variables around the world. In line with the strategy, Samir also indicated, Egypt has worked a draft law on industries benefitting from tax exemptions. The draft is set to be presented to the House of Representatives in the next round of October 2023.

“We will raise the tax exemptions for some private industries to 10 years instead of 5 years”, he also added. Monday September 11, the office of Prime Minister Mustafa Madbouly announced that the country will organize its National Investment Forum in the first half of 2024 to promote the advantages and incentives of investment in Egypt, key investment opportunities in sectors and economic activities.

The Summit will be used to hold partnerships between Government and private sector representatives, including multinationals, financial institutions, investment banks and global sovereign Funds.