The Prime Minister discussed the economic situation, noting
improvements in both the volume and rate of Egyptian exports, which rose by 19
percent during the first ten months compared to the same period last year. He
also highlighted that the trade deficit decreased by more than 16 percent over
the same period, confirming that Egypt is on the right track. This reflects
strong production across many industrial sectors, alongside a decrease in
imports, with the import bill not increasing at the same pace as exports.
Dr. Madbouly then addressed the automotive sector,
emphasizing the return of El Nasr Automotive Company to operation. He expressed
his satisfaction with this major milestone and highlighted reports showing that
the company achieved profits this year for the first time after previously
suffering losses and even halting operations for a period. The government
intends to maximize the utilization of the company’s assets.
The Prime Minister also focused on human development,
announcing the signing of protocols between Egypt and Italy to establish and
develop 89 new applied technology schools. This initiative is part of the
government’s broader program to advance technical and vocational education.
These schools will be accredited by Italy, allowing graduates to hold
certificates recognized by the Italian government. This enables them to work
not only in Egypt but across Europe. Importantly, the Egyptian private sector
will manage the schools once provided by the state.
He added that this initiative responds to longstanding
public demand for greater attention to technical education, and represents just
one part of the state’s comprehensive plan in this area.