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The minister detailed priority sectors for investment, including solar energy components, automotive tires and equipment, vehicle batteries, wind energy components, desalination plant components, and infant formula
Egypt - Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, met with a delegation of Turkish investors led by Rifat Hisarciklioglu, Chair of the ICC World Chambers Federation (WCF).
During the meeting, Minister Al-Wazir emphasized Egypt’s openness to industrial collaboration with all countries, particularly as it works to position itself as a regional industrial hub. He highlighted the Ministry of Industry’s efforts to localize 23 key industries by providing significant incentives and support for investors in these sectors. These industries are strategically selected for their importance in Egypt’s import list and the availability of local raw materials.
The minister detailed priority sectors for investment, including solar energy components, automotive tires and equipment, vehicle batteries, wind energy components, desalination plant components, and infant formula. Other critical sectors identified for development include aluminum, electrical transformers, seamless pipes, water lifting motors, appliance motors, polystyrene production, soda production, electric motors, filtration and water purification machinery, and more.
In addition to these sector-specific incentives, Al-Wazir pointed out Egypt’s broader advantages for investors, including skilled labor, free trade agreements, and access to African markets. He emphasized that Egypt offers substantial support for industries such as export and car manufacturing, further enhancing its attractiveness as an industrial hub.
The Turkish delegation expressed strong interest in investing in Egypt and establishing factories in various promising sectors, drawn by Egypt’s strategic location and the government’s focused approach to industrial development. The combination of Egypt’s large domestic market and its proximity to Africa positions the country as a key base for exports to the continent.
Minister Al-Wazir assured the delegation that Egypt would provide all necessary facilities and expedited procedures for the implementation of the agreed projects.
As part of their visit, the Turkish delegation, alongside representatives from the Ministry of Industry and the Industrial Development Authority, will tour several industrial sites in Borg El Arab and North Fayoum (New October Extension). These locations, which are well-connected to transport infrastructure such as Egypt’s high-speed rail network, existing railways, major highways, and ports, are seen as ideal sites for potential industrial developments. |
