Dr. Mohamed Awad:
- Existing Mexican investments reflect investors’ confidence in Egypt’s investment climate
Walid Anwar:
- Egypt offers promising opportunities for local manufacturing and technology transfer in the pharmaceutical industry
Héctor Ortega Nieto, Chargé d’Affaires at the Embassy of Mexico:
- We look forward to strengthening economic and investment cooperation between Egypt and Mexico
In line with the directives of Dr Mohamed Farid Saleh, Minister of Investment and Foreign Trade, to strengthen investment cooperation and support foreign investments in priority sectors, Dr Mohamed Awad, GAFI CEO, received Mr. Héctor Ortega Nieto, Chargé d’Affaires of the Embassy of Mexico in Cairo, and a delegation from Mexican company Tru Pharma to discuss investment and expansion opportunities in the Egyptian market, particularly in the pharmaceutical and healthcare sectors. The meeting was attended by Mr. Walid Anwar, Deputy CEO of GAFI, as well as a number of GAFI’s and company’s officials.
Dr. Mohamed Awad welcomed Mr. Héctor Ortega Nieto, Chargé d’Affaires of the Embassy of Mexico, and the company delegation, praising the role of the Mexican Embassy in supporting economic and investment relations between the two countries. He affirmed the Egyptian State’s commitment to providing a competitive and attractive investment environment.
Dr. Mohamed Awad also highlighted successful examples of Mexican investment in Egypt, citing CEMEX and Rotoplas, a subsidiary of Polímeros Mexicanos, which operates a factory in Alexandria Public Free Zone, as evidence of Mexican investors’ long-term confidence in Egypt’s investment climate.
In this context, Mr. Walid Anwar, Deputy CEO of GAFI, noted that the pharmaceutical and healthcare sector represents one of the promising sectors, offering opportunities in local manufacturing, technology transfer, and contract manufacturing, in addition to leveraging Egypt’s position as a regional hub for accessing African and Middle Eastern markets.
He also pointed to the potential for expanding investment cooperation between the two countries to encompass other promising sectors, in light of Mexico’s advanced global position in a number of industries, foremost among them the automotive and food industries, as well as textiles, petroleum, and information technology.He affirmed GAFI’s readiness to provide the company with all forms of support and facilitate its engagement with relevant government entities and Egyptian partners, including coordinating meetings with the Egyptian Drug Authority, the Egyptian Authority for Unified Procurement, Egyptian pharmaceutical companies and Arab Company for Drug Industries and Medical Appliances "ACDIMA", thereby facilitating investment procedures and exploring available cooperation opportunities.
For his part, Mr. Héctor Ortega Nieto expressed his aspiration to strengthen economic and investment cooperation between Egypt and Mexico, emphasizing the importance of intensifying coordination and promoting available investment opportunities in a manner that supports the presence of Egyptian and Mexican companies in the markets of both countries and opens new avenues for partnership and the exchange of expertise.
The visit comes within the framework of Tru Pharma’s interest in exploring opportunities to establish local manufacturing, technology transfer, and contract manufacturing projects, as well as exploring cooperation with Egyptian pharmaceutical companies through partnerships or joint ventures, participating in government procurement and supplying the healthcare sector, and leveraging the Egyptian market as a regional hub for manufacturing and exports.
Both sides underscored the importance of maintaining coordination during the coming period to explore further cooperation and investment opportunities, thereby strengthening the economic and investment partnership between Egypt and Mexico and supporting increased mutual investments.
