AIRO – Egypt’s Investment and Foreign Trade Minister Hassan el Khatib expressed his ministry’s readiness to offer all kinds of support for the Polish company “Padma” to set up a furniture industrial complex project, spanning over 400,000 square meters in New Alamein City, with investments of 70 million euros.
He lauded choosing New Alamein City as a launchpad for more investments and future projects for the company in Egypt, underlining that the city is one of the most important and promising cities in the investment, industry and tourism domains.
This came during the minister’s meeting with Krupa Dariusz Piotr, the President of the Board of Directors of the Polish furniture manufacturing company “Padma”, and Managing Director and CEO of the company in Egypt Ahmed Magdy.
During the meeting, the minister said that the government is currently working to undertake further reforms of financial, monetary and trade policies in a way that contributes to attracting more local and foreign investments, upping Egyptian exports to foreign markets, and facilitating the movement of foreign trade to Egypt.
For his part, the chairman of Poland’s Padma lauded the Egyptian government’s support for the foreign investors and the business community.
The project is expected to generate nearly 250 million euros in annual exports, he further noted.
PADMA is one of the most modern and largest plants in the furniture industry in Poland.
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