Egypt’s Minister of Industry Khaled Hashem has met with senior representatives of Haier Egypt for Electrical Appliances, led by CEO Yang Linping, to review the company’s current projects and expansion plans in the Egyptian market.
The company currently operates an environmentally friendly industrial complex in 10th of Ramadan City spanning 200,000 sqm, with total investments of $135m. The complex comprises four factories producing central and household air conditioners, washing machines, televisions and electronic screens, as well as metal forming, plastic injection and paint products.
The complex has an annual production capacity of more than 1 million electrical appliances. Haier launched the first phase two years ago and currently exports around 30% of its production to international markets.
The company is scheduled to inaugurate the second phase of the complex in November, adding refrigerators and freezers with an annual production capacity of more than 500,000 units.
During the meeting, Haier also reviewed its projects division’s production of VRF central air-conditioning systems, which currently have a local component ratio of 42.6%, to serve residential projects in Egypt’s new cities. Household air conditioners have a local component ratio of 65%.
For his part, Hashem said that the Ministry of Industry values the presence of a major industrial and technology company such as Haier in Egypt, stressing the ministry’s interest in supporting the company’s further expansion.
He added that Haier’s expansion would reinforce confidence in Egypt’s investment climate and its ability to attract foreign direct investment, localise advanced technologies, meet domestic market needs and support exports.
The minister called on Haier to increase the local content and value added of its products by studying the local production of specialised components used in central air-conditioning systems, including chillers.
Hashem also highlighted the importance of Haier working to develop and qualify local suppliers to meet its requirements for production inputs, noting that the Ministry of Industry can support these efforts through its Industrial Modernization Center.
For his part, Yang Linping reaffirmed Haier Egypt’s commitment to continued investment and expansion of its production base in Egypt.
He also stressed the company’s reliance on Egyptian talent and expertise as part of efforts to support economic development and strengthen the “Made in Egypt” brand in global markets.
