PM affirms gov't readiness to expand industrial output

Egypt Independent

9 hours ago

Prime Minister Mostafa Madbouly reaffirmed the government's full readiness to support the expansion of industrial activities and boost factory production, emphasizing that such projects create thousands of job opportunities, generate added economic value, and significantly contribute to exports.
The remarks were made during the closing of his visit to Beheira on Saturday 14/6/2025, accompanied by Deputy Prime Minister for Human Development and Minister of Health and Population Khaled Abdel Ghaffar, Minister of Local Development Manal Awad, Minister of Agriculture and Land Reclamation Alaa Farouk, and Beheira Governor Jacqueline Azar.
Madbouly visited several key private sector projects during the tour, including a major export-focused farm and a food manufacturing facility that supplies both local and export markets. 'All the projects I witnessed today are operating at world-class standards,' he noted.
The premier began with a visit to the village of Zawyet Saqr in Abu Al Matamir Center, where he followed up on the implementation of the 'Decent Life' presidential initiative.
He inspected the services provided, including medical convoys, a one-day market, and community centers. He directed the governor to ensure that all completed projects are operated at maximum efficiency.
Later, Madbouly visited Wadi El Natrun Hospital, where the Health Minister outlined expansion plans aiming to transform it into a regional healthcare hub.
Addressing the regional geopolitical developments, Madbouly described the Israeli-Iranian conflict as a 'highly dangerous escalation' that could destabilize the entire region. 'Nobody knows how far this conflict might go,' he warned. 'While it is a bilateral confrontation, it could quickly spiral into a wider regional, and even global crisis.'
He noted Egypt's firm stance in condemning the recent aggression and emphasized that the government is preparing for all potential scenarios.
Madbouly confirmed that he had been in direct contact with the Governor of the Central Bank and the ministers of petroleum and mineral resources, electricity, and finance to monitor the situation, particularly its impact on the energy sector.
Reiterating a previous commitment, Madbouly said, 'We will not resort to load-shedding,' adding that immediate precautionary steps had been taken due to disruptions in natural gas imports essential for power generation. He stressed the government's strategy to avoid electricity outages, especially during the summer.
Egypt has accelerated its plan to bring in floating storage and regasification units (FSRUs) to ensure energy supply. 'Last summer, we had one FSRU. This year, we will have three with triple the capacity,' Madbouly explained. Two of these units are currently being prepared in Ain Sokhna and Alexandria, and will be fully operational by late June and early July, respectively. Combined, the three FSRUs will provide up to 2.25 billion cubic feet of gas per day, significantly boosting supply reliability.
Additionally, fuel oil (mazut) reserves have been doubled compared to the same period last year, ensuring a secure energy backup for power plants.
Madbouly urged the public to share in the responsibility of energy conservation: 'We are all in the same boat. The government is doing its part, and we call on citizens to be mindful of electricity consumption to help us avoid blackouts.'
On the geopolitical front, the premier warned that the current conflict is likely to persist for some time, adding that Egypt has decided to postpone the opening of the Grand Egyptian Museum to the last quarter of the year. 'Given the instability, we found it appropriate to delay this major global event until conditions allow for the international momentum it deserves.'
He expressed hope for de-escalation, warning that any further deterioration could lead to a full-scale regional war with 'devastating consequences' for all involved.