In September 2016, the Egyptian government took giant steps towards economic reform. These reforms aimed to restore macroeconomic stability and balance of trade (BOT) as a step forward to increase national and international investments as well as decrease the unemployment rates. Egypt’s sustainable development strategy and reform plan (Egypt’s Vision 2030) outlines necessary goals, Key Performance Indicators (KPIs) and future actions. It focuses on 10 pillars, where Energy (2nd pillar), Innovation and Knowledge (3rd pillar), Education and Training (6th pillar), Environment (9th pillar), and Urban Development (10th pillar) are core of the proposed reform. Furthermore, Micro, Small and Medium Enterprises (MSMEs) are core to the 1st Pillar of Egypt’s Vision 2030, namely Economic Growth, which is targeted to increase from 4.2% in 2015 to 12% by 2030.
In order to reach the targeted Economic Growth by 2030, several goals have been set up in addition to the previously mentioned pillars. By 2030, Egypt aims to drastically change the current energy mix where Oil & Gas represent 94% of the total energy sources, of which 91% is for electricity generation, to reach only 27%, while renewable sources are aimed to reach 35% by solar energy (16%), wind energy (14%), and hydropower (5%). Moreover, the Egyptian government aims to enhance the current energy usage both for individuals and industries by 15% in the same period. This will contribute to decreasing the CO2 emission by 10% and increasing the contribution of Energy sector from 13.1% to 25% by 2030. To support the realization of such optimistic goals, RIndustry aims is to change the culture of resource utilization in Egypt’s industry for enhanced economics and competition.
