Egypt’s Trade and Industry Minister Ahmed Samir had talks on Saturday with a visiting delegation of one of the major Malaysian companies on investment opportunities in Egypt and the potential for the company’s establishment of a palm oil factory.
In a statement, the minister said there is great chance for the project in Egypt in order to meet local market needs and export abroad, especially to African countries.
He added that the company can also benefit from the advantages of the African Continental Free Trade Area (AfCFTA) for exporting to African markets.
He stressed his ministry’s keenness on benefiting from Malaysia’s expertise and technology in palm oil production.
He said the ministry is ready to offer all needed support and investment incentives for the Malaysian company.
The Malaysian delegation said the company has factories and refining labs in various world countries in Asia, Africa and Europe and it has investments in several sectors, including logistics, automotive, and health services.
The team added that the company is deeply interested in joining the Egyptian market which is one of the most important investment destinations in the Middle East and Africa.
The team noted that it visited the Suez Canal Economic Zone (SCZone) and held meetings with a number of Egyptian companies, the Federation of Egyptian Industries and the Industrial Development Authority.
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