Egypt’s President Abdel-Fattah El-Sisi urged enhancing and expanding the export support system with a focus on high-value industrial sectors, presidential spokesman Bassam Rady said in a statement
El-Sisi has also reviewed Egypt’s key economic indicators throughout 2021 in a meeting on Monday with the country’s economic ministerial group chaired by Prime Minister Mostafa Madbouly.
The president also reviewed indicators for the trade balance as well as imports, exports, and developmental cooperation with international partners.
Egypt’s exports increased by 27 percent in 2021 and recorded EGP 31 billion, the country’s largest export volume in its economic history, the statement affirmed.
The meeting reviewed the basic sectors that contributed to enhancing Egyptian export volume, which are represented in chemical products, construction materials, food industries, engineering and electronic goods, agricultural crops, and ready-made garments.
The meeting also reviewed the qualitative distribution of the largest commodity groups regarding Egyptian imports as the state looks to encourage the local manufacturing of these products.
The president followed up on the efforts to implement a national initiative to encourage local production by promoting Egyptian products and attracting direct foreign investments.
The initiative, dubbed ‘El-Rowad El-Wataneyin’ (National Pioneers), is implemented under the supervision of the Central Bank of Egypt (CBE) through Banque Misr and the National Bank of Egypt (NBE) in cooperation with the Ministry of Trade and Industry.
