The Nilepreneurs, one of the initiatives launched by the Central Bank of Egypt (CBE) , announced the launch of a new program to localize national industry.
The new program, which will be launched in cooperation with Banque Misr and the Industrial Development Bank (IDB), comes as part of efforts to give competitive edge of local industries and overcome import-related challenges.
The Nilepreneurs is a national initiative funded by the CBE, and implemented by Nile University to enhance the ecosystem for entrepreneurs in Egypt through its different programs.
The program that will be launched through the innovation center of the initiative will mainly focus on engineering industries and will provide several services that will focus on enhancing products.
Head of the innovative program at the initiative Ahmed Saleh said that localizing the national industry is a top priority, adding that Egypt is long has long been known to be one of the attractive markets.
The Egyptian market is full of opportunities to provide competitive products that meet the local market needs, he further said.
The industrial society in Egypt is in need of technology to enhance its products, a matter which encouraged the Nilepreneurs to launch this program in cooperation with the Nile University, he added.
Source: State Information Service Egypt