Minister of Industry Khaled Hashem met with Spain’s Ambassador to Egypt Sergio Román Carranza Förster to discuss strengthening bilateral industrial cooperation and attracting Spanish companies to invest in the Egyptian market.
The discussions covered industrial investment opportunities available in Egypt, initiatives by the Spanish Embassy to encourage Spanish companies to expand their presence in the Egyptian market, and successful examples of Spanish industrial investments in Egypt.
Hashem underscored the strength of economic relations between Egypt and Spain, which are based on a long history of cooperation, aligned political visions, and reciprocal official visits. He affirmed the Ministry of Industry’s commitment to deepening industrial ties and attracting additional Spanish investments, while addressing challenges facing Spanish companies operating in Egypt.
The minister said Egypt seeks to expand the presence of Spanish companies in sectors targeted by its updated industrial strategy, particularly textiles, ready-made garments, automotive manufacturing, and renewable energy.
He highlighted the importance of transferring advanced Spanish technologies to Egypt to deepen local industries and enhance domestic production capabilities, benefiting both economies.
Hashem also proposed that the Ministry of Industry host a roundtable for Spanish companies interested in investing in Egypt to present available industrial investment opportunities, incentives, and prospects for expanding local manufacturing.
The minister encouraged Spanish small and medium-sized enterprises (SMEs) to explore Egypt’s competitive advantages and investment incentives, describing the country as a large market with significant growth potential and an important gateway for exports to various markets.
He further highlighted the Industrial Franchise system, which is currently being developed by the Ministry of Industry as a new mechanism for expanding local manufacturing. The system is expected to reduce procedural burdens on companies seeking to invest in Egypt and facilitate the investment process for Spanish businesses, particularly SMEs.
For his part, Ambassador Förster affirmed Spain’s interest in strengthening industrial, trade, and investment cooperation with Egypt, describing the country as one of its key partners in the region.
He highlighted the need for both sides to intensify efforts to increase bilateral trade to levels that reflect the strength of their relations, particularly amid continued interest from Spanish companies in exploring cooperation opportunities with Egyptian counterparts.
The ambassador said more than 60 Spanish companies currently operate in Egypt across various sectors, including cement, ceramics, pharmaceuticals, textiles, and railway industries.
He concluded that several visits by Spanish companies from diverse sectors, including agribusiness, machinery, and equipment, are expected to take place in the coming period.
