President Abdel Fattah El-Sisi attended on Saturday 29/10/2022 the inauguration of the 1st International Manufacturing Convention & Exhibition (IMCE).

The event is organized by the Federation of Egyptian Industries (FEI) during the period from 29 to 31 October 2022 at Al Manara International Conference Center in New Cairo to celebrate the 100th anniversary of its establishment.

The event is attended by Prime Minister Moustafa Madbouli and a number of ministers and senior state officials.

This is in addition to a large number of Egyptian, Arab and foreign investors, representatives of relevant regional and international institutions, members of joint Arab chambers of commerce and industry, representatives of diplomatic missions in Egypt, businessmen and the board of the Federation of Egyptian Industries (FEI), among others.

At the outset of the event, a documentary was screened on the history of the industry globally during the industrial revolution in 1750.

The documentary pointed out that world countries have been seeking to localize and strengthen industries and depend on local efforts to bridge any gaps.

It showed that Egypt was capable of absorbing crises, thanks to tireless and painstaking efforts exerted by the state over the past years.

The documentary also highlighted that the efforts are now focused on developing the flow of industry and trade in the country, noting that the Gross Domestic Product reached up to 400 billion dollars in 2021.

FEI Chairman Mohamed el Sewedy delivered a speech, in which he stressed that President Abdel Fattah El Sisi’s era has witnessed the independence of the Federation of Egyptian Industries for first time ever to become a direct partner with the state.

He added that the FEI had been affiliated to the government and the ministry of industry for several years, but it has become independent in President Sisi's era, extending thanks to the president over attending the 100th anniversary of the establishment of the federation.

"IBDAA" (Start) initiative

Another documentary was screened about "IBDAA" (Start) initiative spotlighting Egyptian craftsmen and history of handicrafts.
It highlighted efforts exerted by new generations to build the new republic and talked about "IBDAA" initiative and the National Initiative for Developing Egyptian Industry.

The documentary tackled the idea of ambitious youth who are confident that it is high time to upgrade local industries nationwide.

It pointed out to the targets of the initiative that calls for strengthening industries and providing job opportunities and reducing import gap by achieving self-sufficiency in industry.

It highlighted that the main objective of the initiative is to promote Egyptian products in local markets nationwide to have "Made in Egypt" slogan, along with stimulating local and foreign investments in cooperation with the bodies concerned.

The documentary also displayed that the initiative aims to hone skills of Egyptian workers in accordance with global criteria and boost technical education culture, noting that the initiative made partnerships to carry out 64 projects, to be opened in early 2023. 

Managing Director of Beko Egypt for heavy machinery Shahir El-Essawi said that the primary goal to cooperate with the national initiative for localizing industry "IBDAA" is to incorporate as many as 100 company into the national economy on annual basis, with the aim of providing jobs, operating factories, and localizing industry in the heavy machinery.

Essawi said that the company is operating in exporting and granting licenses to heavy machinery.

He added that Beko Egypt cooperated with "IBDAA" initiative to manufacture equipment, localize heavy machinery industry and generators in Egypt.

He, also, pointed out to the role of the Arab Organization for Industrialization in producing equipment - in its primary phase - along with the international pacts, which were signed between Egypt and Arab and African countries, affirming that such pacts contribute to the export process in the upcoming phase.

He further referred to Egypt's efforts to promote cooperation with the Arab countries, adding that this project will undoubtedly contribute to reducing the import bill and raising the export balance.

Concluding his speech, Essawi extended thanks to President Abdel Fattah El Sisi for sponsoring several initiatives, including "IBDAA" initiative.

President Abdel Fattah El-Sisi commented asserting that the government is ready to enter into partnership with the investors in projects of the national initiative for industrial development "IBDAA" (Start) initiative.

El-Sisi said: “Egypt eyes encouraging the manufacturing investors and bring them reassurance that the country supports them,” adding “We are ready to get into partnership with ‘start’ initiative with shares range between 30-50 percent or much more to reassure the industry men in Egypt that the country bears some the risks.”

El-Sisi elaborated that "IBDAA” initiative targets principally manufacturing products or production inputs that the Egyptian market needs them, adding that there are products and supplies lists that the country used to import for a long time, and these lists are available at the ministries of industry, finance and the Central Bank of Egypt.

He stressed the importance of taking into consideration the feasibility studies, made by experts, for any unfamiliar project, while other familiar projects, such as the imported machineries and raw materials, there is no need to waste time on such studies, which are well known.

The president pledged to provide the investors in these projects with natural gas and electricity in prices much lower than its actual ones. 

For his part, Board Chairman of "Seha" medical company Mohamed Selim said that the pharmaceutical raw materials city is considered to be the first of its kind in Egypt, the Middle East, and Africa.

He added "When President Sisi launched the national initiative to develop and localize industry, we started to establish a consortium grouping several Egyptian companies that have experience in the pharmaceutical industry sphere".

He also said: "We contacted with "IBDAA" initiative, which facilitated the process of receiving the allotted lands from the governmental bodies."

He further said that three companies were established to manufacture pharmaceutical raw materials.

Meanwhile, Chairman of Polyserve Fertilizers Sherif el Gabaly said that coordination was maintained with "IBDAA" initiative to manufacture fodder ingredients, with the aim of producing monocalcium phosphate in Gamasa industrial city in Daqahlia governorate.

He pointed out that the project is expected to produce about 150,000 tons in three phases, adding that its investments stand at about EGP 1 billion.

Regarding the Soda Ash project, Gebaly said that a meeting was held between "IBDAA" initiative and the holding company, an affiliate of the Petroleum Ministry, along with a host of Egyptian investors.
He added that this company will produce about 500,000 tons annually with an exports bill worth about dlrs 200 million.

He explained that it is scheduled to finalize the feasibility study within three months, noting that a host of foreign investors are keen on investing in this project.

 

On the sidelines of the event, President Abdel Fattah El Sisi witnessed via video-conference the launch of 64 projects under the national initiative for industrial development "IBDAA" (Start) initiative.

El-Sisi inaugurated a project for the Egyptian company (Concord) for manufacturing steel pipes. The project creates 300 job opportunities.

The inauguration also included a project for Hawa group for manufacturing light means of transport, which is deemed the largest in the Middle East with EGP 2.750 billion worth of investments, creating more than 1,500 jobs. The project has potential savings worth of 250-300 million of imports.

President Abdel Fattah El Sisi listened to Mohamed Elaraby, President of Elaraby Group, who expounded that his group’s air conditioner factory produces 500 thousand air conditioners a year, and employs more than 20 thousand people, adding that the percentage of the local components in the produced air conditioners hit nearly 70 percent.

Elaraby also pointed out that the factory is close to produce six million compressors a year, of which four million to be exported.

Moreover, Chairman of Fresh group Khalil Ibrahim said that his group employed 12 thousand people, and has export proceeds by around 120 million dollars.

He added that his group is working, under 'IBDAA' initiative, to manufacture inputs, which were imported at a cost of 65 million dollars.

Afterwards, President Abdel Fattah El Sisi inspected the first international exhibition for industry.

During his tour, El-Sisi urged manufacturers to provide the best Egyptian products and to maximize the local industry.

The President inspected exhibits of factories for nails, cables, nuts, headlights, food industries, air-conditioning devices, pumps, and gas-powered buses, as well as information and technology pavilions.

He pledged to overcome difficulties facing the industry sector to help it work in an appropriate environment.