German Ambassador to Egypt Frank Hartmann inaugurated the Bosch state-of-the-art production site in Egypt, the first of its kind in the country, the Middle East, and Africa.
Hartmann noted that BSH, with revenues of 15.6 billion euros, is the first producer of home appliances in Europe, which develops major products under the brand names Bosch, Siemens, and Gaggenau, now opening its doors in Egypt.
In his speech, he said "It is a great honor to stand here tonight under the eyes of Ramses II in the Grand Egyptian Museum and attend the Groundbreaking Event of BSH in Egypt. It is the responsibility towards the proud history of Egypt which brings us here together, to celebrate a milestone for the future economic development of Egypt."
Hartmann explained that Germany has always been committed to the stable and prosperous development of the Egyptian economy. With 5,5 CV. € Trade in 2022, Germany is one of the largest trade and investment partners for Egypt.
Germany has always been investing in energy and infrastructure, which lays a solid ground for industrial development, according to the German ambassador.
Hartmann highlighted that local industrial production, higher domestic content, and the creation of new export opportunities are key factors to overcome the current crises and strengthen the industrial sector through increased private investment.
"Therefore, I am proud that a major German company is contributing to this urgently needed trend. BSH Home Appliances Group is Europe’s leading home appliance manufacturer and number 3 worldwide," he added.
"Having developed from a German SME to a global player with now 43 factories worldwide, the company serves consumers’ needs around the world with innovative and energy-efficient home appliances."
He pointed out that by opening a local production, BSH is making its long-term contribution to the success and well-being of Egypt.
According to Hartmamn, this new state-of-the-art factory here in Cairo will enable BSH to export to the MENA region and conquer new markets in Africa.
He added that this is largely in line with the ambitions of the Egyptian government, which seeks to increase exports to African markets to $10 billion by 2025.
"Egypt will be a new chapter in the international success story of BSH that started in Germany 55 years ago. And this success story is yet another example of Germany`s role as a crucial economic partner for Egypt. The economic stability and prosperity of Egypt is in our core interest," he stated.
"I wish BSH all the best for this new milestone and look forward to further good news on foreign direct investment to Egypt."
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