Egypt’s Minister of Trade and Industry Ahmed Samir has held a series of meetings with major international companies investing in the Egyptian market and working in the fields of communications, information technology, cars, and e-marketing.
The meetings reviewed the government’s efforts to provide an attractive climate for investment to support the industrial sector, strengthen partnership with the private sector, and discuss ways to attract more industrial investments to the Egyptian market, and increase the local component in industry.
Samir said that Egypt adopted recently several measures and initiatives that aim to support national industries, which include providing utilised lands to companies and facilitating procedures for obtaining industrial licence, in addition to providing more facilities for investors to secure production materials.
He highlighted the ministry’s keenness to attract more international companies to invest in the Egyptian market, as it is a major destination for foreign direct investments in the Middle East and Africa. Moreover, the government aims to enhance cooperation with major international companies to transfer their advanced industrial expertise to the Egyptian market and localise technological and environmentally friendly industries.
Minister Samir met with Jim Liu, CEO of Huawei Egypt, and his accompanying delegation. The meeting tackled the company’s ongoing and future projects, and ways to use the Egyptian market as a centre for the company’s expansion in regional and African markets.
The meeting also dealt with a number of the company’s proposed future businesses in the Egyptian market, which include artificial intelligence, cloud computing, green energy, ecosystem for capacity building, data centres, and digital solutions.
Moreover, Samir met with a delegation from General Motors (GM) International, headed by Sharon Nishi – Managing Director of GM Egypt and North Africa, where they discussed the company’s projects in Egypt and its future vision on localisation of the electric car industry in the Egyptian market.
The minister also held a meeting with General Manager of Oppo Egypt Noah Ma and his accompanying delegation. The meeting discussed the situation of the company’s new factory in 10th of Ramadan City, Cairo, which will begin production next year. The factory was built on an area of 15,000 sqm with a production capacity of about 4 million mobile phones annually, with a local component of 40%.
They also discussed the company’s expansion plans in the Egyptian market, as the company currently has branches in all governorates and 20 maintenance centres nationwide, and employs 7,000 direct workers.
The Minister also met with General Manager of Amazon Egypt Omar Elsahy and his accompanying delegation, in the presence of Mohamed Abdel Karim, president of the Industrial Development Authority.
The meeting reviewed the company’s business in the Egyptian market, which began last year with the establishment of the largest warehouse for storing products in Africa with investments amounting to EGP 1bn. The company also established 22 distribution stations, as the company’s projects in Egypt provide more than 3,000 job opportunities.