Latest news with #IndustrialVision2030
Sharjah 24
20-05-2025
- Business
- Sharjah 24
SEDD participates in 'Make it in the Emirates' forum in Abu Dhabi
Showcasing Sharjah's investment environment SEDD's participation is focused on showcasing Sharjah's attractive investment environment, along with initiatives that support national industries and emerging companies. This aligns with the emirate's strategy to enhance competitiveness and attract high-quality investments. Strong investor engagement at the forum Sharjah's platform at the forum drew strong interest from investors, businessmen, and manufacturers. SEDD highlighted key investment opportunities in vital industrial sectors, while also presenting streamlined procedures for business registration and licensing. The department also showcased financial and technical support programs available to both SMEs and large corporations. Participation in strategic dialogues SEDD's delegation took part in dialogue sessions and panel discussions on the future of industry in the UAE. Discussions also explored the role of special economic zones in driving industrial transformation and strengthening local supply chains. Commitment to UAE's Industrial Vision 2030 Hamad Ali Abdulla Al Mahmoud, Chairman of SEDD, emphasised that Sharjah's participation reaffirms its commitment to UAE's Industrial Vision 2030. He highlighted Sharjah's strong industrial infrastructure, flexible legal system, and world-class logistics, positioning the emirate as a preferred destination for industrial investment. Strengthening Sharjah's economic role Al Mahmoud noted that SEDD's involvement in the forum supports the goal of reinforcing Sharjah's position as a key economic and production hub in the region. The forum also serves as a strategic platform for knowledge exchange, investment promotion, and partnership building to boost the national industrial sector. Promoting industrial potential and investor support Khalid Ahmed Al Suwaidi, Director of the Industrial Affairs Department, stressed the importance of showcasing Sharjah's industrial potential and supportive business environment. He noted that the emirate offers economic incentives and advanced infrastructure that appeal to industrial investors. He added that the forum opens new avenues for cooperation and industrial localisation, supporting the National Industrial Strategy and the UAE's long-term economic sustainability goals. 'Make it in the Emirates': A national industrial platform The 'Make it in the Emirates' Forum brings together decision-makers, investors, government entities, and private sector representatives to explore challenges and opportunities in the industrial sector. The forum serves as a hub for innovative solutions, aiming to position the UAE as a global leader in smart manufacturing and industrial investment.
Zawya
05-05-2025
- Business
- Zawya
Egypt targets 8mln industrial workers by 2030: Al-Wazir
Egypt - Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, has announced that approximately 3.5 million Egyptians are currently employed in the industrial sector, accounting for 7.5% of the national workforce. The government aims to more than double this number to around 8 million by 2030, raising the industrial share of employment to 20%. Speaking during Labour Day celebrations in Suez Governorate, Al-Wazir revealed that Egypt's industrial output currently stands at $76bn (as of 2024), with plans to increase it to $170bn by 2030. The country is targeting an annual industrial growth rate of 10%. At present, industry contributes 14% to Egypt's GDP, a div the government also seeks to boost to 20% by the end of the decade. Al-Wazir outlined the state's efforts since July 3, 2024, to expand industrial capacity, enhance exports, create jobs, and upskill the workforce. These initiatives form part of Egypt's Industrial Vision 2030, an ambitious development strategy endorsed by President Abdel Fattah Al-Sisi to fast-track industrialization, attract investment, and strengthen the global competitiveness of Egyptian products. Key pillars of the plan include streamlining industrial licensing procedures, reducing approval timelines, improving access to finance, and offering tax and customs incentives. It also emphasizes the importance of private sector engagement, technological localization, innovation, and vocational training. As part of Egypt's broader digital transformation agenda, the government launched the Egypt Digital Industrial Platform to centralize and automate services such as land allocation, licensing, industrial registration, and e-payments. The platform also supports stalled and unregistered factories and provides both technical and financial assistance to small and medium-sized enterprises (SMEs), helping integrate them into the formal economy and supply chains. Al-Wazir highlighted a suite of initiatives to restructure and stimulate the industrial sector. These include allocating EGP 120bn in working capital loans and EGP 30bn for financing production lines and equipment—both offered at a 15% interest rate. A dedicated fund is also being established, in coordination with the Central Bank of Egypt, to support distressed factories and boost export-oriented industries. Additionally, low-interest financing at 5% is available for SMEs engaged in industrial projects. The government has earmarked EGP 190bn in export incentives through June 2024, with an additional EGP 23bn scheduled for disbursement beginning in July 2024. These payments are expected to be made within 90 days of submitting complete documentation. Complementary infrastructure upgrades are underway nationwide—including road, railway, and port development—to facilitate the movement of raw materials and finished goods and improve the overall competitiveness of Egyptian exports. As part of the urgent plan to revitalize the sector, 4,382 new factories have been established since July 3, 2024, marking a 6.4% growth rate and generating 230,000 direct job opportunities. The long-term goal is to reach 100,000 operational factories by 2030. In addition, 2,070 industrial land plots have been allocated via the Egypt Digital Industrial Platform. Authorities have also issued 1,493 construction permits, 4,382 new operating licenses, and 6,713 industrial records for export-focused industries. These divs, Al-Wazir said, demonstrate the dynamism of Egypt's industrial sector. Joint inspection committees led by the General Authority for Industrial Development, in collaboration with other relevant bodies, have inspected 4,866 factories across 25 governorates—without closing a single one. Al-Wazir also noted progress in specialized industrial cities like Robbiki Leather City, where 308 tanneries and 40 glue factories have been fully allocated, operated, and handed over. This includes the successful relocation of all residents from the Magra El-Oyoun area. An additional 91 leather industry factories have been allocated and are currently in the contract finalization phase. The minister also reviewed various investment incentives offered by the state. These include measures under Investment Law No. 72/2017, Prime Ministerial Decree No. 77/2023 (encouraging foreign currency-based investments), the Local Product Preference Law No. 5/2015, and the Automotive Industry Incentive Program under Egypt's national automotive strategy. He emphasized that these incentives are playing a vital role in enhancing Egypt's industrial competitiveness. As a result, the country's non-oil exports reached $42bn in 2024, including $34bn in industrial exports. By 2030, Egypt aims to increase total exports to $145bn—of which $118bn will be industrial—underscoring the government's commitment to sustainable and inclusive industrial development.
Daily News Egypt
03-05-2025
- Business
- Daily News Egypt
Egypt targets 8 million industrial workers by 2030: Al-Wazir
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, has announced that approximately 3.5 million Egyptians are currently employed in the industrial sector, accounting for 7.5% of the national workforce. The government aims to more than double this number to around 8 million by 2030, raising the industrial share of employment to 20%. Speaking during Labour Day celebrations in Suez Governorate, Al-Wazir revealed that Egypt's industrial output currently stands at $76bn (as of 2024), with plans to increase it to $170bn by 2030. The country is targeting an annual industrial growth rate of 10%. At present, industry contributes 14% to Egypt's GDP, a figure the government also seeks to boost to 20% by the end of the decade. Al-Wazir outlined the state's efforts since July 3, 2024, to expand industrial capacity, enhance exports, create jobs, and upskill the workforce. These initiatives form part of Egypt's Industrial Vision 2030, an ambitious development strategy endorsed by President Abdel Fattah Al-Sisi to fast-track industrialization, attract investment, and strengthen the global competitiveness of Egyptian products. Key pillars of the plan include streamlining industrial licensing procedures, reducing approval timelines, improving access to finance, and offering tax and customs incentives. It also emphasizes the importance of private sector engagement, technological localization, innovation, and vocational training. As part of Egypt's broader digital transformation agenda, the government launched the Egypt Digital Industrial Platform to centralize and automate services such as land allocation, licensing, industrial registration, and e-payments. The platform also supports stalled and unregistered factories and provides both technical and financial assistance to small and medium-sized enterprises (SMEs), helping integrate them into the formal economy and supply chains. Al-Wazir highlighted a suite of initiatives to restructure and stimulate the industrial sector. These include allocating EGP 120bn in working capital loans and EGP 30bn for financing production lines and equipment—both offered at a 15% interest rate. A dedicated fund is also being established, in coordination with the Central Bank of Egypt, to support distressed factories and boost export-oriented industries. Additionally, low-interest financing at 5% is available for SMEs engaged in industrial projects. The government has earmarked EGP 190bn in export incentives through June 2024, with an additional EGP 23bn scheduled for disbursement beginning in July 2024. These payments are expected to be made within 90 days of submitting complete documentation. Complementary infrastructure upgrades are underway nationwide—including road, railway, and port development—to facilitate the movement of raw materials and finished goods and improve the overall competitiveness of Egyptian exports. As part of the urgent plan to revitalize the sector, 4,382 new factories have been established since July 3, 2024, marking a 6.4% growth rate and generating 230,000 direct job opportunities. The long-term goal is to reach 100,000 operational factories by 2030. In addition, 2,070 industrial land plots have been allocated via the Egypt Digital Industrial Platform. Authorities have also issued 1,493 construction permits, 4,382 new operating licenses, and 6,713 industrial records for export-focused industries. These figures, Al-Wazir said, demonstrate the dynamism of Egypt's industrial sector. Joint inspection committees led by the General Authority for Industrial Development, in collaboration with other relevant bodies, have inspected 4,866 factories across 25 governorates—without closing a single one. Al-Wazir also noted progress in specialized industrial cities like Robbiki Leather City, where 308 tanneries and 40 glue factories have been fully allocated, operated, and handed over. This includes the successful relocation of all residents from the Magra El-Oyoun area. An additional 91 leather industry factories have been allocated and are currently in the contract finalization phase. The minister also reviewed various investment incentives offered by the state. These include measures under Investment Law No. 72/2017, Prime Ministerial Decree No. 77/2023 (encouraging foreign currency-based investments), the Local Product Preference Law No. 5/2015, and the Automotive Industry Incentive Program under Egypt's national automotive strategy. He emphasized that these incentives are playing a vital role in enhancing Egypt's industrial competitiveness. As a result, the country's non-oil exports reached $42bn in 2024, including $34bn in industrial exports. By 2030, Egypt aims to increase total exports to $145bn—of which $118bn will be industrial—underscoring the government's commitment to sustainable and inclusive industrial development.
