Egypt is stepping up efforts to attract more German companies, particularly small and medium-sized enterprises (SMEs) specialising in advanced technologies, Industry Minister Khaled Hashem said on Monday.
The initiative aims to promote technology and innovation transfer, improve the efficiency of local industry and strengthen private-sector partnerships between Egypt and Germany.
Speaking at a roundtable with German industrial companies, Hashem highlighted Egypt’s advanced infrastructure, free trade agreements with multiple markets, skilled workforce and strategic geographical location as key advantages that can facilitate German companies’ access to Middle Eastern and African markets.
He said the ministry was also implementing a programme to develop and qualify local suppliers across supporting industries, including incentives for major companies to help Egyptian suppliers meet their requirements and integrate into global supply chains.
The ministry is introducing the “Qima” (Value) certification to assess industrial facilities and link incentives to efforts to increase local content, deepen manufacturing, develop suppliers, invest in technology and research and development, and employ and train workers, thereby boosting local value-added and competitiveness.
Hashem added that the Automotive Industry Development Programme (AIDP) was a cornerstone of efforts to attract major global automotive brands through a substantial package of incentives.
The roundtable, chaired by Hashem and attended by German Ambassador to Egypt Jürgen Schulz and President of the German-Arab Chamber of Industry and Commerce in Egypt Mostafa El-Bagoury, focused on companies’ expansion plans, challenges and potential solutions, as well as ways to strengthen co-operation with Egyptian counterparts.
Schulz reaffirmed Germany’s commitment to expanding economic and industrial co-operation with Egypt, noting that bilateral trade reached approximately €6 billion last year.
He said German companies were interested in Egypt’s investment opportunities, particularly those supporting human capital development and the localisation of industry and technology.
