Egypt joins ITA’s program to foster clean industrial projects in MENA region

Updated 5/8/2025 10:46:00 AM

Arab Finance: Egypt signed a new agreement as critical Industrial Transition Accelerator (ITA) partner, joining the UAE and Bahrain to promote clean industrial projects in the MENA region, according to an emailed press release.

The joint deal was signed by Omar Suwaina Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology of the UAE, and Duaa Salima, Executive Director of the Industrial Modernization Center (IMC).

The signing ceremony was attended by Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ITA Co-Chair of the Industrial Transition Accelerator, Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport in Egypt, and Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade.

Al Suwaidi commented: “The ITA’s new partnership with Egypt marks the beginning of an exciting chapter, where we can strengthen regional cooperation to advance industrial sustainability, and reduce carbon emissions.”

He added: “The ITA is a strategic necessity for building a resilient industrial ecosystem that aligns with future global trends. It works to enable industries to adopt practices and technologies that minimize environmental impact while improving productivity.”

The ITA aims to gather leadership across industry, finance, and governments to accelerate decarbonization in key high-emitting industries on both the regional and global levels for the aluminum, cement, chemicals, steel, aviation, and shipping sectors.

The partnership will expand and support essential green industrial projects across the MENA region, marking a major step forward in reducing the industrial sector’s carbon footprint.

Egypt’s inclusion in the initiative marks significant milestone, making it the third country to join the ITA’s MENA Program, following the UAE and Bahrain.

Egypt is major industrial hub in the MENA region, as it contributed to the global shift toward sustainable industry, given its strategic location and access to conventional and renewable energy sources.

The state's industrial strategy aims to contribute to the GDP from 14% to 20% by 2030 and the green economy’s share to 5% of gross domestic product (GDP), which will play a vital role in green economic development.

With this inclusion, Egypt has the opportunity to become a critical supplier within the MENA region for Europe’s demand for low-carbon commodities.

In 2024, the ITA launched Project Support Programs in partnership with the governments of Brazil, the UAE, and Bahrain. So far, these programs have promoted over 45 projects, with investment opportunities of more than $100 billion.