Egypt’s Prime Minister Moustafa Madbouli reaffirmed the government’s continued support for the industrial sector, describing it as a fundamental pillar of the national economy and a key driver for achieving economic, developmental and social objectives.
He also stressed the state’s commitment to localising strategic industries, meeting domestic market needs, expanding exports and strengthening the competitiveness of Egyptian products in international markets.
Madbouli’s remarks were made during a meeting he called on Sunday with Chief Executive Officer and Managing Director of Elsewedy Electric, Ahmed Elsewedy, to review the company’s business strategy, expansion plans and investments across several sectors.
The meeting was attended by a number of senior company officials.
For his part, Primer Madbouli emphasised the government’s continued efforts to strengthen the role of private sector institutions across different economic activities, underlining their importance as key partners in driving economic growth and development.
During the meeting, CEO Elsewedy highlighted Egypt’s extensive investment opportunities across multiple sectors and noted the strong potential currently available within both industrial and tourism activities.
He stressed the importance of capitalising on these opportunities to support broader economic and development objectives.
Elsewedy also reviewed progress on several industrial and investment projects currently being implemented by the company in different sectors, while outlining future expansion plans aimed at increasing investments and entering additional areas of activity, particularly within the automotive industry and electric vehicle manufacturing.
He further reviewed the company’s ongoing co-operation with the General Authority for the Golden Triangle Economic Zone and efforts to attract additional industrial investments to the area.
In this regard, he requested an expansion of the land allocated to the company within the Golden Triangle region, highlighting the significant infrastructure investments already made and the anticipated increase in industrial activity in the area.
During the meeting, company officials presented details of Elsewedy Electric’s expansion strategy in the automotive sector, noting that new vehicle models are expected to be manufactured in Egypt in partnership with two international manufacturers.
They stated that the Ezz–Elsewedy plant has an annual production capacity of approximately 80,000 vehicles, with investments worth billions of Egyptian pounds aimed at meeting domestic demand and enhancing export capabilities.
