Arab Finance: Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, met with Hisham Al-Loumi, President of Coffee Cup International, a leading Tunisian company in the field of designing and manufacturing electrical cables and braids for cars, to review the latest developments in establishing a factory for the company in the 10th of Ramadan City, with investments of $50 million. .
The Minister stressed that the Egyptian government attaches great importance to the localization of the automobile industry and feed industries in Egypt, as it is one of the most important vital sectors in the Egyptian market, with the aim of attracting more local and foreign investments, and increasing Egyptian exports, within the framework of a strategy for the Egyptian state to support the localization of the automobile industry, not Especially electric cars, by benefiting from the expertise and direct foreign investments of companies with great experience in this field.
Al-Khatib explained that the Egyptian market has distinct investment capabilities and opportunities that make it an attractive destination for local and foreign investments, noting the ministry’s keenness to improve the business environment and facilitate procedures, which enhances Egypt’s competitiveness as a major destination for investment and trade in the region.
The Minister pointed out the Ministry’s commitment to providing all means of support to the company, overcoming all obstacles, and facilitating the procedures for establishing and operating its project in Egypt, pointing out that the Egyptian market is characterized by many investment components, which include the availability of qualified workers and competitive wages, in addition to Egypt’s enjoyment of a strategic geographical location, in the middle of Continents of the world; This facilitates access to countries in the Middle East and the continents of Europe, Africa and Asia.
For his part, Mr. Hisham El-Loumy, Chairman of the Board of Directors of Coficab Company, appreciated the measures and policies taken by the Egyptian government, especially in the automotive industry sector, which would attract more foreign investments, pointing out that Coficab Company is one of the largest Tunisian and international industrial companies. In the field of developing and manufacturing electrical and electronic systems, and deals with major international automobile companies in this field.
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