Ahmed Rostom, Minister of Planning and Economic Development, said Egypt is moving towards a more diversified, innovative, and export-oriented economy, with tradable sectors and deeper integration into regional value chains among its top priorities. Rostom made the remarks during his participation in a high-level seminar organised by the Economic Research Forum (ERF) and the Euro-Mediterranean Economists Association, in partnership with ANIMA Investment Network, on Euro-Mediterranean industrial cluster policies. The seminar brought together policymakers and industrial leaders from the Levant and Europe under the theme, “A Policy Dialogue on Cluster-Driven Innovation and Regional Value Chains.” Rostom said the Egyptian economy has a number of strengths that position it to enhance its role as a regional hub for production, innovation, and services connecting Europe, the Middle East, and Africa. He explained that the government is seeking to leverage Egypt’s strategic location, human capital, and advanced infrastructure to create the necessary conditions for attracting high-quality investment, enhancing industrial competitiveness, and expanding the access of Egyptian companies to regional and global markets. The minister also reviewed the development of Egypt’s economic growth rates, which have seen an increasing contribution from the non-petroleum manufacturing sector in recent years, amid state measures to expand industrial clusters and encourage foreign investment. He noted that these measures are driving an economic transformation towards higher production and exports, with the aim of making them the largest contributors to the structure of economic growth. For his part, Raed Safadi, Executive Director of the Economic Research Forum and President of the Euro-Mediterranean Economists Association, said, “Strong industrial clusters are fundamentally built on connections, linking companies with knowledge, technology, finance, and markets. When these connections work efficiently, they raise productivity, accelerate innovation, and help companies compete beyond their national borders. Our goal in Cairo is to identify practical policy reforms that can strengthen these connections across the Levant.” The session addressed three key priorities for strengthening industrial cluster ecosystems: enhancing industrial cluster governance; strengthening innovation ecosystems, research-industry cooperation, and competitiveness; and financing innovation and building sustainable industrial cluster ecosystems.The post Egypt moving towards more diversified, innovative, export-oriented economy first appeared on Dailynewsegypt.
