Prime Minister Mostafa Madbouly said on Sunday, September 6, 2026, that Egypt’s current economic strategy is focused on developing a skilled workforce, deepening and localizing domestic industries, and attracting major investments from leading manufacturers around the world.
Madbouly made the remarks at a press conference following an extensive tour of the integrated Sokhna Industrial Zone, affiliated with the Suez Canal Economic Zone (SCZONE), during which he inaugurated nine new industrial projects. The conference was attended by Minister of Health and Population Khaled Abdel Ghaffar, Minister of Labor Hassan Reddad, Minister of Planning and Economic Development Ahmed Rostom, Minister of Industry Khaled Hashem, Suez Governor Hany Rashad, and SCZONE Chairman Mostafa Shikhon.
Madbouly expressed his satisfaction with the latest visit to SCZONE, describing the zone as a “dream” that Egyptians had long aspired to realize, given the strategic importance of the Suez Canal as a global waterway and a major trade route. He said this had made it essential to explore ways to capitalize on the area’s potential as a global industrial and logistics hub.
“I always make a point of coming here to SCZONE every three months to inaugurate more promising factories and new projects or expansions of existing projects,” Madbouly said. “Today, we are inaugurating projects and expansions at nine factories with investments of up to $85 million, creating jobs for around 2,000 young Egyptians who have entered the labor market with the opening of these factories.” Madbouly said briefings from the owners and officials of the new factories showed that exports account for up to 100% of production at some facilities and at least 70% at others, with the remainder supplied to the domestic market.
He said it was particularly encouraging to see the rising share of local content at these factories, which are moving from assembling products to fully manufacturing them. Local components account for at least 40% of production and reach as high as 95% at some factories, he added.
Madbouly also highlighted the diversity of industries he saw during the tour, including textiles and yarns used in garment production, furniture, food processing, fertilizers, mining and medical industries. He pointed to the factory specializing in refurbishing ambulances, a project launched at the direction of President Abdel Fattah El-Sisi.
Using modern technologies, the facility can extend the service life of ambulances that might otherwise have been scrapped, allowing them to remain operational for another five or six years. The factory has also begun transferring its successful experience to neighboring countries after they sought Egypt’s assistance in the field, he said.
The Prime Minister also highlighted one of the factories inaugurated during the visit for manufacturing dental chairs used in dentistry and oral surgery. The chairs had previously been fully imported but are now manufactured locally to the highest standards rather than merely assembled.