Madbouli stresses need to promote local industry: Spox

CAIRO, May 12 (MENA) – Prime Minister Dr Mostafa Madbouli said Sunday the sustainability of development rates currently reached by Egypt requires promoting the local industry to guarantee keeping the economy on the right track.

During a meeting attended by Minister of Trade and Industry Amr Nassar, Head of the Small and Medium Enterprises Development Authority Dr Niveen Gamia and a number of industrialists and heads of major companies operating in Egypt, the prime minister reviewed the government’s plan to enhance the local component in industry, Cabinet Spokesman Nader Saad said.

The government gives great attention to drawing up an urgent plan to increase the local component in industry and reduce import of production inputs through producing them locally, he said.

The premier asserted the need to adopt a specific plan that includes urgent and viable measures that aim at manufacturing industrial inputs locally, he added.