According to the minister of trade and industry Tarek Kabil, the government is willing to increase the contribution of the industrial sector to the Gross Domestic Product (GDP).
Having recently come under pressure following statements made by the International Monetary Fund (IMF) about the need to further economic reforms, Egypt is targeting an increase in industrial sector contribution to the GDP to 21% by 2030.
Tarak Kabil stated that the government aims at attracting more than 150 billion dollars in industrial investments by 2030. He also highlighted the positive impact of the recent reforms on the trade balance, which deficit was reduced by to 35%.
Since September 2017, Egypt has achieved the most important industrial growth in the world.
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