Egyptian President Al-Sisi comments on the value of the dollar and inaugurates new factories in Egypt

Egyptian President Abdel Fattah El-Sisi spoke about reducing the burden on the state from the dollar crisis, during his support for the Futech plant for the production of energy-saving equipment, which produces 50% energy-saving lamps.

Addressing the factory’s board of directors, Engineer Mohamed Helmi, President, said: “I am ready to support you in making the local component in your products more than 60% … I hope that we will achieve more than 90% or 100%.”

He added: “If we could get the full or nearly full local content of the product, it wouldn’t burden the government beyond providing jobs and lowering the burden of the dollar.”

The owner of Futech smart lighting factory for power rationalization gave a clearer explanation of the smart products provided by the state in the field of energy saving as well as job creation through the national industry.

The President of Egypt opened 5 factories under the Ibda initiative using video conferencing technology.

Source: RT

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