Khaberni - Egyptian Prime Minister Dr. Mostafa Madbouly, revealed on Thursday that the crisis management committee will hold a meeting before April 27th of this month to decide the fate of the store closing times, as part of a comprehensive assessment of the decision's impact on energy consumption and market dynamics.
The Prime Minister said during a press conference that the relevant committee will review the results of the closure decision's implementation and determine whether it will be extended, amended, or terminated, based on performance indicators during the previous period, especially regarding electricity consumption rationalization.
In a related context, Madbouly emphasized that the government is moving forward in supporting the industrial sector as a driver of economic growth, pointing to the implementation of advanced infrastructure aimed at attracting investments and enhancing local production.
He explained that the Suez Canal Economic Zone now includes more than 200 factories, with total investments estimated at about 6.5 billion dollars, with participation from investors from more than 28 countries, reflecting the growing confidence of foreign capital in the Egyptian market.
He added that the recent inauguration of 9 new factories reflects the acceleration of industrialization, especially in sectors aimed at reducing the import bill, confirming that the state is striving to turn Egypt into a regional industrial hub capable of meeting local market needs and expanding exports.
During his tour of the Suez Canal Economic Zone, the Prime Minister inaugurated the "Green Recycle" factory for recycling plastic waste, a step that reflects the state's orientation towards enhancing the green economy.
Madbouly affirmed that the project comes as part of a governmental strategy to support environmental sustainability by stimulating investments in recycling and waste management fields, considered promising sectors that achieve integrated economic and environmental returns.
The factory spans an area of 30,000 square meters, with investments amounting to about 5 million dollars, and a production capacity of 8,000 tons annually, providing about 50 direct job opportunities.
The project aims to maximize the use of plastic waste and turn it into value-added products, supporting the local industry with competitively quality recycled materials, contributing to pollution reduction and creating new job opportunities, in addition to supporting exports and conserving foreign currency.
The government's move, between re-evaluating store closing times and industrial expansion, is part of an attempt to achieve a delicate balance between rationalizing energy consumption and maintaining economic activity momentum, amid regional challenges and inflationary pressures that impose themselves on the economic scene.
