Egypt aims to attract 60 million tourists annually

During a Saturday press conference at his inspection tour in Beni Suef Governorate, Madbouly said: “We are working to attract all international brands to open factories in Egypt to be a center for all of these brands.”

He explained that he inspected a number of factories such as for Toshiba Elaraby washing machines, a Samsung factory, a pharmaceutical factory, and another for clothing.

The pharmaceutical factory was suffering from shortage in raw materials following the economic crisis, the Prime Minister said, and is now setting its plan for expansion following the economy’s recovery.

Madbouly said that there must be a plan to support Egyptian exports, and the local component in industries must exceed 40 percent in each factory in order to benefit from the greatest possible support.