Arab Finance: The Gold and Precious Metals Division of the Federation of Egyptian Industries (FEI) rolled out a new strategy extending to 2029, aimed at transforming Egypt into a regional hub for the gold industry, Chairman Ehab Wassef told Al Arabiya.
The initiative focuses on boosting reliance on exporting locally manufactured gold jewelry, rather than bullion and raw materials. This is in addition to increasing the sector’s added value and enhancing the competitiveness of gold jewelry in international markets, while supporting the growth of industrial exports and expanding foreign currency flows.
The committee developed a comprehensive plan to launch new markets in Africa, the Gulf nations, and Europe, leveraging free trade agreements, Wassed added.
He indicated that the strategy is based on five key pillars, including developing comprehensive marketing databases, promoting innovation in jewelry design, expanding the adoption of advanced manufacturing technologies, upgrading production capabilities, and implementing workforce training programs to improve product quality.
In the same vein, the committee plans to broaden the exporter base by supporting and qualifying small and medium-sized enterprises (SMEs) for export, in addition to addressing any challenges facing manufacturers.
