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The Future of the Egyptian Industry in light of Global Transformations Conference, organized by the Egyptian Center for Strategic Studies (ECSS), was launched on Saturday morning, March 26, 2022.
The conference discussed, during the first session, qualitative transformations globally and their impact on the industry, while the conference discussed, during the second and last session, a roadmap for the localization and development of the industrial sector.
The conference, also, discussed the successive global developments with the view to understanding their repercussions on the future of industrial business systems.
The conference underlined the importance of training, research and development to ensure the competitiveness of the Egyptian industry.
The conference also reviewed plans to attract foreign direct investment to the Egyptian industry, and mechanisms to enhance the role of the private sector in the Egyptian industrial sector, in addition to discussing mechanisms to maximize the role of manufacturing industries in sustainable development and plans to localize industries in the governorates and achieve spatial development.
Globalization controls the international system… and global crises are causal
In this regard, Senator Dr. Abdel Moneim Saeed, Head of the advisory body at the Egyptian Center for Thought and Strategic Studies, confirmed that Egypt faces international challenges in the field of industry, noting that globalization has dominated the global system during recent decades in a way that the world has become a small village, however this small village has returned to its vast differences now. He explained that these differences are in the heart of the European continent, where the two world wars took place, and not in any other country such as Afghanistan, Iraq or Georgia as happened before.
In this respect, Senator Dr. Abdel Moneim Saeed noted that the current crisis has two possibilities, the first one is getting used to the crisis similar to what happened in other crises such as terrorism and Corona, while the second possibility is to reach a solution. Fortunately, there are already signs that the crisis could thawed in the coming months.
Saeed added that the current global crisis is causing a major economic crisis as it is at the heart of the global capitalist system, therefore it adds great complications to supply chains in the world, and affects the price of the dollar up and down, which affects the local currencies.
He explained that all of these problems that the world faces are due to the war and mutual threats between poles that possess weapons of mass destruction, which affects the global economy and investment, and consequently Egypt in different ways. In this respect, he stressed the importance of localizing the industry.
He explained that the basic Egyptian model in development is similar to the Asian model based on creating a real market economy that it has a strong export capacity.
The senator pointed out that Egypt has completed the necessary infrastructure for this, but we need a large export market, as the Egyptian market in itself is not a large market. Therefore, if the global market is competitive, the regional market provides us with more space that can accommodate significant growth in the Egyptian industry, as what happened in Eastern Mediterranean gas based on regional integration that made Egypt a regional energy hub.
A decent life: We are looking at investment opportunities in every region
Justina Tharwat, Head of the Targeted Groups Sector at the Good Life Foundation, spoke about the role of the Good Life initiative in the development of the industry.
She said that a decent life aims mainly to develop people and the surrounding environment and provide a strong and high-quality product, in line with the sustainable development goals launched by the United Nations, explaining that there are 36,000 volunteers on the ground as part of the Decent Life initiative.
Major General Mohamed Ibrahim, Deputy Director of the Egyptian Center for Thought and Strategic Studies, said that “The future of the Egyptian industry in light of global transformations… towards more localization and integration” conference aims to come up with visions that can contribute to the advancement of the national industry.
During his speech at the conference, he raised a question: “Do the current global transformations represent an opportunity for the Egyptian industry?”, pointing out that This is the question currently posed on the scene, especially in light of the increasing indications that these transformations will lead to reshaping the global industry map, and adjusting the balance of power at the international level.
Monitoring 131 customs items that can be manufactured locally
Engineer Mohamed Abdel Karim, head of the Industrial Modernization Center, said that a committee of 18 ministries was formed, headed by the Ministry of Trade and Industry, to implement 100 proposals to stimulate industry, including strengthening control over industrial facilities.
The head of the Industrial Modernization Center stressed the importance of industries and small and medium enterprises and their role as an engine of growth.
Engineer Mohamed Abdel Karim stated that many obstacles facing the industry have been studied, most notably the real estate tax, as the state’s public treasury will bear the real estate tax on factories for a period of 3 years.
He also explained that a list of 83 confirmed investment opportunities has been prepared for industrial products that can be manufactured locally instead of importing them from abroad, adding that the Industry Modernization Center has identified 131 customs items that can be manufactured locally, which contributes to reducing the import bill.
Final statement of the Conference
The conference participants recommended the following:
– The necessity of strengthening regional cooperation between Egypt and Arab as well as African countries in the industrial sector, especially in commodities with a competitive advantage.
– Placing the local manufacturing of the Egyptian product at the top of the Egyptian government’s action plan.
– Strengthening the partnership between the public and private sectors to establish industrial projects to replace imported goods.
– Improving the investment climate.
– Increasing the competitiveness of the local product in the international markets.
– Stimulating foreign investments to establish research and development centers to help transfer knowledge and modern technology to the Egyptian state.
– Developing the establishment of industrial cities, within the plan of the economic reform program of the Egyptian state.
– Making a legislative amendment that includes adding mandatory clauses in government import contracts from abroad to include the transfer of technology and knowledge and the training of Egyptian workers.
– Expanding the establishment of schools and technological institutes.
– Developing societal awareness of the importance of technical education.
The statement concluded with the need to promote eco- friendly industries and expand the production of clean energy sources.
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