Egypt’s Minister of Industry, Khaled Hashem, held talks with a delegation from China Baowu Steel Group, led by Chairperson Hu Wangming, to explore avenues for strengthening industrial and investment cooperation and expanding investments in priority sectors.
The meeting was attended by Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), Nehad Youssef, Head of the Industrial Development Authority (IDA), along with senior officials from the Ministry of Industry.
At the outset, Hashem reaffirmed the ministry’s commitment to strengthening Egypt’s iron and steel sector, describing it as a cornerstone of strategic industries, particularly automotive manufacturing and home appliances.
He noted that steel products are central to advancing Egypt’s industrial development objectives, adding that the ministry is prioritising industries with strong reliance on iron and steel, with a view to increasing exports to international markets.
Hashem also highlighted Egypt’s significant opportunities in infrastructure and manufacturing, stressing that the government continues to enhance the business environment and provide support to investors. He added that these efforts are aimed at fostering cooperation in steel production, green industries and industrial supply chains.
For his part, Hu underscored Egypt’s strategic location and strong market potential, expressing the group’s readiness to expand cooperation and align its plans with Egypt’s development priorities.
He added that Baowu aims to leverage its expertise in steel production, technology and management to explore practical joint projects that support regional industrial development and strengthen economic ties between Egypt and China.
