CAIRO – 8 July 2021: “Egypt was one of the few countries that recorded during the crisis an economic growth of about 3.57 percent during 2019/2020,” Minister of Trade and Industry, Nevine Gamea, said. Gamea explained in a statement, Thursday, that the industrial sector is the locomotive of economic growth in Egypt and contributed about 17.1 percent to the GDP in 2019/2020, compared to about 16.4 percent in the previous year, and thus became the largest contributor to Egyptian economic growth, compared to other economic sectors. She added that the manufacturing sector achieved a positive growth rate during 2019/2020 of about 1.4 percent, although it was less than what it achieved in the previous year, which recorded 2.8 percent, but remained positive in the year of the pandemic as a reflection of the measures taken to strengthen the industrial sector during the crisis. "The program targets the food industries, the pharmaceutical industries and medical supplies, the textile and ready-made garments industries, and the engineering industries that include cars and household appliances,” she continued. The minister indicated that work is underway on legislative, procedural and digital development axes in order to reduce the time and cost of export and import in order to strengthen the industrial and trade sectors.

Source: Egypt Today July 08, 2021 15:33 UTC