Sisi to Egypt’s Channel One: Egypt seeks to boost industrial production

Egypt is eyeing an increase in the volume of industrial production to be able to reduce an annual cost of 30 billion dollars’ worth of supplies, President Abdel Fattah al-Sisi said.

Speaking to Egypt’s Channel One late Tuesday, the president said he is concerned with securing the basic commodities for citizens first, noting that Egypt imports some 10 million tons of wheat each year.

All petroleum products are available, Sisi assured nonetheless. He put the value of monthly gas consumption in Egypt at about two billion dollars.

Work is underway to upgrade the efficiency of the Damietta Port and the Port Said Port, the president told the “Nine O’clock” Show yesterday.

He also praised a new road network that is “beyond imagination”.

The whole society should unite to solve problems, Sisi urged, stressing the need to come up with ideas that would help provide good services at the different sectors.

Sisi said Egypt needs 250 billion pounds to improve education, noting that the budget allocation for this sector is not even half that sum.

It should take long years of sincere work to overcome challenges facing Egypt, the president acknowledged.

Those who refer to success stories of South Korea, Singapore and Malaysia only cite them as experiments without talking about the course of action, which could take between 20 to 30 years, Sisi said.

“Citizens should know that we are unable to offer more than what we do,” he said, noting, however, that “we have the will to offer the best”.

There should be solutions, the president said, stressing that he would personally welcome and support all ideas to solve the problems of Egypt.

“If something happens to this country, people will walk away, leaving behind only those who can’t afford to depart.”

Sisi stressed, yet again, that the state could not be built without sacrifices from the people.

Everything was working very well and according to plan, even before the coronavirus pandemic, and the Gross Domestic Product (GDP) was moving upward, Sisi said.

The president said he is worried because he is responsible for 100 million citizens.

Truly, Egypt’s economic circumstances are difficult, Sisi admitted, calling on all Egyptian Egyptians to unite for the sake of their country.

President Sisi said there are documentaries on Egyptian ports over the past 50 years, including the ports of Alexandria, Sokhna, Suez and Port Said, adding that these ports should be renovated to get the utmost revenues out of them.

The Egyptian ports had 35 km of docks that became 70 km, he said, adding that Alexandria Port witnessed major renovations and its platforms were regularly being increased.

The president said he follows up all the projects taking place in Egypt, adding that he will save no effort to present the best for the Egyptians.

President Sisi said the new roads network in Egypt is “exceptional”.

President Sisi noted that late Nobel prize winner Ahmed Zewail said in 2014 that he wanted to build a science city, saying that Zewal asked to assign the implementation of the project to the Armed Forces Engineering Authority.

Zewail also pledged to provide EGP 500 million to contribute to carrying out the project.

Initial cost was estimated at EGP 3.5 billion, he said, adding that after the death of Zewail the city has been completed.

President Sisi, meanwhile, said that as many as 1,000 bridges were established across the country.

He further said that several businessmen put forward a proposal to establish “500 500” cancer hospital, noting that this project was implemented even without waiting for businessmen’s support.

The total cost of the hospital stood at EGP 17 billion, he added.

The president also said that 10% of the cost of establishing the mosque and the cathedral in the New Administrative Capital was gathered from donations from Egyptians.

The political turmoil Egypt lived through 2011 triggered great financial cost that had been estimated at dlrs 477 billion, he went on to say.

Sisi said that the industry sector suffered three times over the past years: with factories going out of service in the wake of incidents between 2011 and 2013, also following the flotation of the Egyptian pound in 2016, then due to the coronavirus pandemic and the Russian-Ukrainian crisis.

The Russian-Ukrainian crisis has affected supply chains, as well as prices, the president noted.

Sisi said that Egypt has gained two trillion pounds from purchases in the New Administrative City, which is established over 750 square meters. The money was then used to build the government district and extend utilities, he added.

“I am creating economic entities to be able to make my people across Egypt rich. I am building entities to bring in money,” the president told Egypt’s Channel One.

According to Sisi, linking the economic capacity to the price of the dollar is an inaccurate and incorrect idea. He pressed for action to reduce imports and increase exports, noting this could be done through industry.

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