The investment distribution is projected: non-petroleum manufacturing industries are expected to receive approximately EGP 79 billion of total investments, while petroleum industries will receive around EGP 22 billion
Egypt directs investments amounted to EGP 100.7 billion to boost the manufacturing sector during Fiscal Year 2023/2024 (FY23/24). This marks a 19.6% increase in comparison to the expected investments in the FY2022/2023, according to a report issued by the Ministry of Planning and Economic Development.
The investments distribution is projected as follows: non-petroleum manufacturing industries are expected to receive approximately EGP 79 billion of total investments in the sector, while petroleum industries will receive around EGP 22 billion.
The manufacturing sector ranks first in terms of contribution to the gross domestic product (GDP), by no less than 16%. Furthermore, the sector’s contribution to Egypt’s exports represents more than 85% of the total non-oil merchandise exports, amounting to about $25.9 billion in FY2021/2022, the Minister of Planning and Economic Development, Hala El-Said announced.
Regarding the sector production’s targets at current prices, the report explained that it is aimed to enhance the industrial production to provide EGP 4.3 trillion in the FY 2023/2024 up from EGP 3.6 trillion in the FY2022/2023, with a growth rate of more than 19%.
In the coming years, the plan foresees industrial production to reach EGP 5.74 trillion by the conclusion of the 2025/2026 period. This would reflect a 15% growth compared to the corresponding production in the previous year.
Additionally, the total industrial production at constant prices is projected to exceed EGP 3 trillion in 2023/2024, rising further to EGP 3.23 trillion in 2025/2026, the report indicated.
To achieve these objectives, the plan sets a goal of reaching an industrial output of EGP 2.46 trillion by the conclusion of the 2025/2026 period, surpassing the EGP 1.83 trillion recorded in 2024/2025. Moreover, efforts are focused on enhancing the real output of the industrial sector to EGP 1.37 trillion, an increase from the EGP 1.29 trillion achieved in 2023/2024.
