Dr. Mohamed Awad:
- We are committed to providing full support to investors and addressing any challenges facing their expansion plans.
In line with the directives of Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, to ensure the continuous follow-up of investments by global companies operating in the Egyptian market, support their expansion plans, and address any challenges they may encounter, Dr. Mohamed Awad, Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI CEO), held a meeting with executives of Guardian Glass, in the presence of Mr. Yasser Abbas, GAFI Deputy CEO.
Representing the company were Eng. Mahmoud Hegazy, Regional Director of Operations for the Middle East, Africa and Asia, and Mr. Saeed Ben Bella, Strategic Partnerships Director for the Middle East and Africa. The meeting reviewed the latest developments regarding the company's existing investments in Egypt, as well as its expansion plans and future strategy to increase production and exports.
Dr. Mohamed Awad affirmed that the Egyptian government attaches great importance to supporting value-added industrial investments, in line with the directives of the political leadership. He noted that GAFI is committed to maintaining continuous communication with investors, closely following up on their projects, and working to promptly resolve any challenges they may face in coordination with the relevant authorities, thereby facilitating the expansion of existing investments and attracting new ones.
The GAFI CEO welcomed Guardian Glass's continued expansion in the Egyptian market, emphasizing that the company's increased investments reflect its confidence in Egypt's investment climate, as well as the economic and legislative reforms implemented by the government over recent years, in addition to Egypt's competitive advantages as a regional hub for manufacturing and exports.
He added that GAFI will coordinate with the company regarding the arrangements for inaugurating the new expansion project once the final date has been confirmed. This will include preparing the inauguration agenda, coordinating with the relevant authorities, and organizing the opening ceremony in a manner that reflects the significance of the project and its contribution to supporting national industry.
For their part, Guardian Glass executives reviewed the latest developments in the implementation of the company's new expansion project, which involves investments of approximately USD 20 million to introduce the latest glass manufacturing technologies through the establishment and operation of a new vacuum coating production line. The project will enable the production of high-performance glass with advanced optical, thermal, and mechanical properties, supporting the construction and building sectors while enhancing the competitiveness of Egyptian products in global markets.
The company representatives explained that the new expansion will increase the plant's production capacity and strengthen its export capabilities. Upon completion of the project, exports are expected
to exceed 50% of the company's total production, further reinforcing Egypt's position as a regional and international hub for glass manufacturing and exports.
They added that the new production line will manufacture energy-efficient glass for residential and commercial buildings, helping to improve energy efficiency and reduce cooling and heating requirements, thereby supporting environmental sustainability efforts.
The company representatives also noted that Guardian Egypt currently provides 207 employment opportunities, while the new project is expected to create approximately 30 highly specialized engineering and operational jobs. Advanced overseas training programs will also be implemented to transfer the latest expertise and technologies to the Egyptian market.
At the conclusion of the meeting, both sides emphasized the importance of maintaining close cooperation and coordination during the coming period to ensure the successful implementation of the new project and enhance the company's contribution to supporting national industry, increasing exports, and transferring advanced technologies, in line with the state's strategy to promote industrial investment and strengthen the competitiveness of the Egyptian economy.
