Egypt: Sisi Ready to Support Companies to Up Local Components of Egyptian Products

1 May 2023
Egypt State Information Service (Cairo)

President Abdel Fattah El Sisi asserted Monday that the State was ready to support companies to increase the local components of Egyptian products.

Commenting on the word of FUTEC Technologies Company president marking Labor Day, Sisi said: "I am ready to support you to increase current ratio of local components from 50 to 60 percent", voicing hope over reaching a 100 percent of components.

Sisi noted that the State is currently working on reducing the consumption of street lights, noting that the State should adopt a plan for replacing the ordinary lights with the smart ones.

Meanwhile, FUTEC company head promised the president to raise to 90 percent the local components by early May next year as well as localizing the LED industry in Egypt, Africa and the Middle East.

Read the original article on Egypt Online.

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