Development financing directed to the private sector surpassed government development financing by 35% during Q1, underscoring the success of economic reforms aimed at empowering the private sector to drive growth, according to a cabinet statement.
The first phase of the city is expected to commence With the construction of a tire factory within a year.
He outlined the government’s urgent industrial development plan, which aims to elevate the industrial sector’s contribution to the national economy from its current 14% to 20% annually by 2030.
El-Wazir highlighted the strong relationship between Egypt and Malaysia, noting that Egypt is Malaysia’s fifth-largest African trading partner.
The project is scheduled to produce 20,000 cars in the first year so that the production volume will reach 50,000 cars by the end of the fifth year.