President Abdel-Fattah El-Sisi said in Alexandria on Tuesday that the government will be implementing a number of measures to reform Egyptian industry, without providing details.
The president made the comments in a speech at an event celebrating Labour Day, where he discussed issues including economic reforms, education, and public transportation.
El-Sisi said that he hopes Egyptian workers will understand these reforms in industry and stressed that “no one will be harmed” by these measures.
“The fruits of the [country’s] economic reforms are not yet over, and even greater gains will be made in the future,” El-Sisi said, referring to the ongoing economic reform program adopted by the government.
President El-Sisi said that there have already been some good indicators reflected in the increased economic growth rate, increased wages for workers in the state apparatus, and pension hikes.
“These decisions confirm without any doubt that Egypt has overcome a difficult period in its history and reflect an appreciation for the sacrifices the Egyptian people have had to bear,” El-Sisi added.
The President added that the Egyptian people have handled the burden of the economic reforms in a way that has helped maintain stability and security.
“We should make the children and grandchildren understand that security and stability are the only ways of advancing and developing the state,” he said.
El-Sisi also spoke about the importance of the public sector and stressed that it needs reforms to fix its mismanagement.
The president also discussed the transportation system in Egypt.
“Why did public transportation fail while Uber succeeded? Why did the railways fail? Because we are not serious and we run the public transportation system badly,” he said.
President El-Sisi also said that Egypt has the opportunity to increase local manufacturing and reduce the reliance on foreign products.
Speaking about the current policies to invest in infrastructure in Egypt, El-Sisi said that these are not a luxury, but are rather necessary to attract investments.
El-Sisi spoke also about education reform.
“We need the understanding and the support of the Egyptian people, does it make sense to have more than 100,000 graduates with business degrees?” he said, stressing that families should understand the importance of technical education.
The President made the comments during a speech on the occasion of Labour Day in a celebration held at Ras El-Teen Presidential Palace in Alexandria.