PM Witness MoU Signing Ceremony to Establish World's Largest Factory for "Sumitomo"-Japan
to Produce Car Wiring Harness in 10th of Ramadan City
Madbouly: The government is keen to provide full support and facilitation to investors in order to localize
the industry and transfer technology.
Abdel Wahab: The Company provides 10 thousand job opportunities in its factories, and such number is
expected to double after the completion of the new expansions.
Chief Operating Officer (COO) of "Sumitomo Europe Limited": Our decision to increase investments in
Egypt is a reflection of confidence in the Egyptian economic climate, and we have achieved exports
equivalent to EGP 10 billion.
Today, Prime Minister Dr. Mostafa Madbouly witnessed the signing ceremony of a memorandum of
understanding (MoU) between GAFI and "Sumitomo Egypt" to establish, within Free Zones Framework,
the world's largest factory for "Sumitomo Corporation" of Japan for the manufacture of wiring harness of
cars and vehicles on an area of 150 thousand m2
in the 10th of Ramadan City.
The MoU was concluded in the presence of Mr. Oka Hiroshi, Ambassador of Japan in Cairo, Mirsha Serbo,
COO of Sumitomo Europe Limited, and Mr. Rudi Rudolph, Deputy Managing Director of the company.
The MoU was concluded by Counselor Mohamed Abdel Wahab, GAFI CEO, and Mr. Ahmed Magdy,
Managing Director of Sumitomo Egypt.
Prior to the signing, Dr. Mostafa Madbouly expressed the government's appreciation for the company's
intention to increase its investments in Egypt, through the establishment of a new factory for the
manufacture of electric car braids. He also appreciated the company's goal to increase the export rates of
its products and provide new job opportunities, stressing the government's keenness to provide full support
and the necessary facilitation to establish and operate this factory, in line with what the government recently
approved of new incentives and procedural facilitation for investors aiming at domestication of industry
and transferring modern technical technologies to Egypt.
Counselor Mohamed Abdel Wahab mentioned that the company works in Egypt in the field of
manufacturing car braids, and exports all its products to most of the international car manufacturers in
Europe and the Middle East, through eight production sites distributed between Port Said and the cities of
the 10th of Ramadan and the 6
th of October. Moreover, he noted that Sumitomo provides nearly 10,000 job
opportunities, and this number is expected to be doubled after the completion of all the company's new
expansions in Egypt.
Mirsha Serbo, Sumitomo Europe Limited COO, said that the company's decision to increase its investments
in Egypt was a reflection of its confidence in the investment climate in Egypt, and its desire to benefit from
the investment incentive package recently announced by the government, in addition to the support and
facilitations of all procedures offered by GAFI to the company. In addition, he noted that the company has
achieved exports worth EGP 10 billion in recent years, and the company is actively contributing to the
development of the technical education.
Mr. Ahmed Magdy, Managing Director of the company, indicated that the project would take a year and a
half to be implemented, and it is targeted to start operating by the end of 2023.
Furthermore, it is decided that the entire production of the new factory will be exported abroad, which will
contribute to raising the rate of Egyptian exports
