Modernizing Egyptian industry the gateway for booming exports
A ten-year plan will be discussed in the Egyptian cabinet to modernize Egyptian industry. Moustafa El-Refaei, Minister of Industry, stresses that this plan aims at increasing industrial production to LE 317 billions compared with the present amount at LE 165 billions.
The program of modernization will improve the technological infrastructure, restructure industrial establishments and accelerate the developments in the industrial sector in general. This program comes within the efforts of the Egyptian government to offer genuine facilities to investors and improve the climate of investment in general.
Meanwhile, all public industrial establishments will be exposed to a huge process of modernization through privatization, amalgamation, or lifting bureaucratic obstacles.
The societies of businessmen will participate in the program through financing training courses for all workers and new graduates to be accustomed to new technology.
Thus, Egypt will be able to produce hi-tech products at reasonable prices and with local expertise to compete in world markets.
On the other hand, businessmen and owners of private enterprises have expressed their optimism towards this program as it marks a new way of thinking by the Egyptian government. Through the consolidated efforts of the government and the private sector, Egyptian industry will be rehabilitated and modernized quickly. Such cooperation will open the way for individual creativity and pragmatic solutions for the chronic problems of Egyptian industry.
In the meantime, the academic circles especially private universities have expressed their eagerness to participate in the training programs of workers and graduates at cheap prices to help with the process of modernization.
Such a scheme of training and restructuring is well-timed since Egypt occupies a strategic geographic position in the heart of the world which will enable her, if truly exploited, to be a major industrial country like the countries of south-eastern Asia at least in so short a time.