{"id":655959,"date":"2024-11-26T00:00:00","date_gmt":"2024-11-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/26\/govt-wants-the-industrial-sector-to-contribute-20-30-of-gdp\/"},"modified":"2024-11-26T00:00:00","modified_gmt":"2024-11-26T00:00:00","slug":"govt-wants-the-industrial-sector-to-contribute-20-30-of-gdp","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/26\/govt-wants-the-industrial-sector-to-contribute-20-30-of-gdp\/","title":{"rendered":"Gov\u2019t wants the industrial sector to contribute 20-30% of GDP"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon folks, and happy Tuesday.<\/strong> Despite the slow news day, the presses here at EnterpriseAM are still churning \u2014 sit back, relax, and read on.<\/p>\n<p class=\"tag-border-left\">THE BIG STORY TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt is looking to raise the industrial sector\u2019s contribution to the country\u2019s total <\/strong><strong>GDP to 20-30%<\/strong> from its current 14%, Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid01PJsFpufJ3wxfoBhZTeiS8EwuKkB1q3EHjbH3bV7V4CXmvk8TqkUZYH1MAXqbYT3l?rdid=UGoIDZeAy3BzoYZd#\" style=\"\" rel=\"noopener\">said<\/a>. He also highlighted the government\u2019s plan to up the local component ratio in the industrial sector to 70-80%, up from no more than 40% at the moment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CORRECTION- <\/strong>We mistakenly referred to Souhoola as CI Capital\u2019s consumer finance firm in today\u2019s issue of EnterpriseAM Egypt \u2014 the firm operates under Banque Misr. The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78410394-0a7a-454a-8ba2-b3b825649fb8\/souhoola-closes-first-egp-478-mn-securitized-bond-issuance\" style=\"\" rel=\"noopener\">story<\/a> has been amended on our website. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Intel is set to receive USD 7.9 bn in US government grants for its chip manufacturing<\/strong>, with at least USD 1 bn of the funds to be received before December\u2019s end, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/us-finalizes-786-billion-chips-manufacturing-award-intel-2024-11-26\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing anonymous government sources. The funds \u2014 which will support USD 90 bn worth of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f445d680-f50d-40dc-b03d-cc79e70a09ac\/is-the-government-getting-ready-to-sell-another-10%2525-stake-in-telecom-egypt%3F\" style=\"\" rel=\"noopener\">struggling chipmaker\u2019s<\/a> manufacturing projects in the states of Arizona, New Mexico, Ohio, and Oregon \u2014 is the largest amount awarded under the country\u2019s USD 52.7 bn domestic semiconductor production program, also known as the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f3e30497-22e4-4e67-87fe-1741b1c33def\/the-us-wants-to-reshape-the-global-semiconductor-industry-in-its-favor\" style=\"\" rel=\"noopener\">CHIPS Act<\/a>. \u201cThat means American-designed chips being manufactured and packaged by American workers in the United States by an American company for the first time in a very long time,\u201d US commerce secretary Gina Raimondo said. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Big reforms to the tax and customs systems are in the works: <\/strong>The government is mulling a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d422c6ce-5c20-475f-9d53-413282e26c1c\/gov%25e2%2580%2599t-considers-permanent-property-tax-exemption-for-factories,-residential-tax-reforms,-and-customs-overhaul\" style=\"\" rel=\"noopener\">permanent exemption<\/a> for factories from property taxes and either raising the residential tax exemption cap or doing away with it altogether for first homes.The measures are part of a broader plan to revamp the property tax law and resolve ongoing disputes.<\/li>\n<li><strong>There\u2019s another USD multi bn ammonia plant in the works<\/strong>, with Polish renewables player Hynfra announcing plans to set up a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2988052f-4d8a-44e3-bf27-2b2646fff746\/poland%25e2%2580%2599s-hynfra-eyes-usd-10.6-bn-green-ammonia-plant-in-egypt\" style=\"\" rel=\"noopener\">USD 10.6 bn green ammonia facility<\/a> in Egypt with production capacity of 1 mn tons per year.<\/li>\n<li><strong>UK-based Watercycle Technologies closes Series A round ahead of MENA <\/strong><strong>expansion: <\/strong>UK-based climate-tech startup Watercycle Technologies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe0f0d5e-429c-44fe-9d65-4bfd150b6d21\/watercycle-technologies-raises-usd-5.6-mn-ahead-of-mena-expansion\" style=\"\" rel=\"noopener\">raised USD 5.6 mn<\/a> in a series A round led by a syndicate of VC firm Par Equity and the Greater Manchester Combined Authority, business accelerator Aer Ventures, and the University of Manchester Innovation Factory.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2600\ufe0f TOMORROW\u2019S WEATHER- <\/strong>The chilly temperatures remain constant, with tomorrow\u2019s mercury reaching a high of 20\u00b0C and a chilly low of 13\u00b0C in the capital, according to our favorite weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon folks, and happy Tuesday. Despite the slow news day, the presses here at EnterpriseAM are still churning \u2014 sit back, relax, and read on. THE BIG STORY TODAY- Egypt is looking to raise the industrial sector\u2019s contribution to the country\u2019s total GDP to 20-30% from its current 14%, Prime Minister Moustafa Madbouly said. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":655960,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[104,633,131,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-655959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-economy","tag-enterprisepm","tag-manufacturing","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"6e8c880d-780a-4b1e-beec-d7a6718a3645","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/11\/2471.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[655957],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.9ee42461-6cca-4e9f-834c-e6c12e84911d.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gov\u2019t wants the industrial sector to contribute 20-30% of GDP - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/26\/govt-wants-the-industrial-sector-to-contribute-20-30-of-gdp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t wants the industrial sector to contribute 20-30% of GDP\" \/>\n<meta property=\"og:description\" content=\"Good afternoon folks, and happy Tuesday. Despite the slow news day, the presses here at EnterpriseAM are still churning \u2014 sit back, relax, and read on. THE BIG STORY TODAY- Egypt is looking to raise the industrial sector\u2019s contribution to the country\u2019s total GDP to 20-30% from its current 14%, Prime Minister Moustafa Madbouly said. 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While we have been readying for the weekend wind-down, the news cycle is still barrelling through a slew of international developments at full speed.THE BIG STORY TODAY- ? The economy grew 5.3% in the first quarter of FY\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/313.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":690472,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/03\/29\/israel-extends-gas-state-of-emergency-war-fallout-weighs-on-egypts-gdp\/","url_meta":{"origin":655959,"position":1},"title":"Israel extends gas state of emergency + war fallout weighs on Egypt's GDP","author":"enterpriseam admin","date":"29 March 2026","format":false,"excerpt":"Good afternoon, friends, and welcome to your first full workweek in\u2026 well, a while. The week seems to be off to a rainy start, but nothing the past few days haven\u2019t already prepared us for. Moreover, it\u2019s a busy afternoon in the press, and we\u2019ve got a bit of a\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/6\/113.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":658136,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/05\/south-korean-president-faces-down-arrest-warrant\/","url_meta":{"origin":655959,"position":2},"title":"South Korean president faces down arrest warrant","author":"enterpriseam admin","date":"5 January 2025","format":false,"excerpt":"Good afternoon all you wonderful people, and welcome to the new year. Amid a slow news day on the local and international fronts, we have all the latest for you.THE BIG STORY ABROAD South Korea\u2019s presidential crisis intensifies: The standoff over South Korea\u2019s impeached president Yoon Suk Yeol\u2019s arrest escalated\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/90.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":663049,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/26\/gdp-growth-comes-in-at-4-3-in-2q-fy-2024-2025\/","url_meta":{"origin":655959,"position":3},"title":"GDP growth comes in at 4.3% in 2Q FY 2024-2025","author":"enterpriseam admin","date":"26 March 2025","format":false,"excerpt":"Good afternoon, friends, and welcome to the almost-weekend. The news cycle is still heating up as we wind down before Eid. In today\u2019s issue you\u2019ll find all you need to know about our accelerating GDP growth, the White House\u2019s latest piling national security blunders, as well as an explanation of\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1412.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":666287,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/01\/madinet-masr-unveils-emirati-subsidiary\/","url_meta":{"origin":655959,"position":4},"title":"Madinet Masr unveils Emirati subsidiary","author":"enterpriseam admin","date":"1 June 2025","format":false,"excerpt":"Good afternoon, all. It appears that we have hit the pre-eid news slowdown, with things fairly calm on the homefront.THE BIG STORY TODAY- Madinet Masr announces Emirati subsidiary: Real estate developer Madinet Masr is setting up a subsidiary in Dubai \u2014 dubbed Cities of the World \u2014 to manage its\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/1648.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":665186,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/13\/ain-sokhna-industrial-zone-launches-two-factories-worth-combined-usd-210-mn\/","url_meta":{"origin":655959,"position":5},"title":"Ain Sokhna industrial zone launches two factories worth combined USD 210 mn","author":"enterpriseam admin","date":"13 May 2025","format":false,"excerpt":"Good afternoon, friends. We hope this finds you well and that your air filters are earning their keep today. 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