Egypt reviewed the targets of the manufacturing sector for fiscal year (FY) 2021/2022 as part of the medium-term sustainable development plan between FY18/19 and FY21/22, according to The Egyptian Minister of Planning and Economic Development, Hala El-Saeed.
The minister stressed the importance of the manufacturing sector which contributes 17% to the country’s gross domestic product (GDP), accounts for about 15% of all regular labour, and makes up 80-85% of the total non-petroleum commodity exports, according to a statement on Thursday.
Target investments in the manufacturing sector for FY21/22 are seen at EGP 125.7 billion, including EGP 16.6 billion in the petroleum refining industry and EGP 109.1 billion in the non-petroleum manufacturing industries.
The plan also includes increasing the non-petroleum industrial production by 9.9% year-on-year (YoY) to EGP 1.75 billion in FY21/22 and the non-petroleum manufacturing industry output by 11.9% to EGP 808 billion.
