The Prime Minister Mostafa Madbouly held a high-level meeting with the head of China’s largest car tyre manufacturing company to discuss potential investments in Egypt’s automotive sector.
The meeting, held at the Cabinet headquarters in Cairo, is part of Egypt’s broader strategy to attract foreign direct investment and boost its industrial capabilities.
The Chinese company, a global leader in tyre manufacturing, is renowned for its cutting-edge technology and sustainable production practices.
During the discussions, the company’s CEO expressed keen interest in establishing a production facility in Egypt, citing the country’s strategic location, access to African and European markets, and government incentives for foreign investors.
Prime Minister Madbouly highlighted Egypt’s ongoing efforts to develop its infrastructure and industrial zones, particularly the Suez Canal Economic Zone (SCZone), which has become a hub for international companies seeking to expand their operations.
“Egypt is committed to creating a business-friendly environment and fostering partnerships with global leaders in manufacturing,” Madbouly stated.
The talks also focused on the potential for technology transfer and job creation, with the Chinese company pledging to explore training programs for Egyptian workers and the use of local raw materials in its operations.
Economic analysts view this meeting as a significant step toward strengthening Egypt-China economic ties, which have grown substantially in recent years. If the investment materializes, it could bolster Egypt’s position as a regional hub for the automotive industry and contribute to the country’s economic growth.
The meeting concluded with both sides agreeing to continue discussions and conduct feasibility studies to identify the most suitable investment opportunities.
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