Today, Dr. Mustafa Madbouly, Prime Minister, met with Counselor Mohamed Abdel Wahab, GAFI CEO, to follow up on a number of projects that are being implemented and to discuss GAFI’s efforts to promote potential investment opportunities in Egypt.
The Prime Minister stressed the State's continuous efforts to create an attractive climate for investment in order to attract global capital and implement major projects in various sectors in a manner that enhances the national economy and push growth and employment rates significantly.
GAFI CEO indicated that his latest visit to the State of Qatar to promote investment opportunities in Egypt resulted in consultations to coordinate with a number of Qatari investors on a number of projects, pointing out that an important investment group had been consulted with the aim of identifying its plan regarding the Egyptian market during the next phase, as well as reviewing the lands available for study for the purpose of implementing the group's targeted projects in Egypt.
He added that the group expressed its desire to implement new projects in Egypt, which includes the construction of crops cultivation project such as corn, soy, and wheat. The project will be on an area of about 25 thousand feddans, as well as the establishment of an integrated farm with a capacity of 50 thousand cattle heads, and a manufacturer for dairy products with a capacity of 300 million liters annually. In addition to establishing a hospital on an area of 20 feddans in cooperation with an American company, in addition to establishing a commercial mall that includes many international brands on an area of up to 200 feddans.
Counselor Mohamed Abdel Wahab also reviewed the results of the meeting held with Mr. Jose Octavio, Ambassador of Mexico in Cairo, in the presence of Mr. Adrian Sada, CEO of Vitro, one of the most prominent glass manufacturers worldwide and its largest producer in North America. He point out that the meeting dealt with discussion of the new investments of the Mexican company in Egypt.
He mentioned that during the coming period, the available investment opportunities before the Mexican companies were reviewed, and investment incentives were discussed to attract foreign investments to Egypt. CEO of the Mexican company confirmed its aspiration to implement new investments in Egypt, through the establishment of a factory to manufacture glass on an area of 350,000 meters, and another factory to manufacture containers on a
surface area of 150,000 meters, under the free zone framework, with a total investment estimated at $400 million, providing 1500 new job opportunities and the company aims to export most of its production abroad.
Abdel-Wahab pointed out that it was agreed with the Mexican embassy to encourage more Mexican companies to direct their investments to Egypt, and to increase cooperation with the Mexican side by organizing more promotional events in the priority sectors of the two countries.
GAFI CEO also discussed the project that CFC Fertilizers and Chemicals aims to implement under the private free zones framework, and is based on the establishment of the first industrial complex in the Middle East and Africa to produce nutritional feed supplements, using the latest German technology offered by The German "ODA ThyssenKrupp" company in the Ho Industrial Zone, Nagaa Hammadi, Qena Governorate, on a surface area of 500,000 square meters, with a total investment of about $400 million, providing 2500 direct and indirect job opportunities. The industrial complex supports the feed and fertilizer industry that serves several strategic sectors, due to its close connection with agricultural activity and food security; moreover, it provides an alternative national product to imported products.
Counselor Mohamed Abdel Wahab discussed the outcome of the meetings of Egypt-Japan Business and Investment Promotion Committee, which witnessed a presentation on the most significant developments in the investment cooperation between the two sides, especially the investments and expansions made by the Japanese companies operating in Egypt during last year, in addition to discussing future investment fields and various investment opportunities in Egypt. He indicated that during the Committee's meetings, a promotional tour for GAFI was announced to be implemented next month in a number of Japanese cities, as part of the promotional strategy to attract Japanese investments to Egypt.
Furthermore, GAFI CEO indicated that it is planned to sign a memorandum of understanding at the end of this week, between GAFI and a leading Chinese company in the field of manufacturing home appliances, on establishing an integrated industrial zone in Egypt, under the investment zone framework, with huge investments, along with providing all the incentives and necessary facilities form GAFI’s side.
