Minister of Investment and Foreign Trade Mohamed Farid Saleh and Minister of Industry Khaled Hashem held an expanded meeting on Wednesday with Nicolas Poiroux, Air Liquide’s Chief Executive Officer for Africa, the Middle East, India, and Kazakhstan, and his delegation.
During the meeting, they discussed opportunities for expanding the company’s investments in the Egyptian market and shoring up co-operation in industrial gases and clean energy.
Discussions during the meeting touched on the company’s operations in Egypt since 2002, where it currently manages around 15 production sites and serves more than 800 customers across a wide range of industrial sectors. It also highlighted investments exceeding €100 million in recent years, in addition to plans to expand pipeline networks and develop infrastructure supporting industrial growth in several areas.
Farid stressed that Egypt has attached due importance to attracting foreign direct investment, particularly in high-value-added industrial sectors.
The government has made strenuous efforts to improve business environment and simplify procedures in ways that boost investor confidence.
The minister of investment noted that expanding industrial gas projects represents a key driver for the growth of heavy and manufacturing industries.
The minister also affirmed the importance of transferring expertise and advanced technologies to enhance production efficiency and raise the global competitiveness of Egyptian products.
For his part, Minister Hashem said the Ministry of Industry is keen to benefit from Air Liquide’s expertise in localising industrial gas production technologies, given their role as an intermediate input in several strategic sectors, including steel, glass, medical, food, and chemical industries.
He also invited company officials to study the possibility of manufacturing gas-cooling units locally, to reduce reliance on imports.
Meanwhile, Nicolas Poiroux said the company views the Egyptian market as one of the most promising in the region. He said that the company has plans to increase Air Liquide’s investments in the coming period, building on previous investments that hit around €100 million.
Egypt enjoys a strong pool of skilled talent, particularly in engineering and industrial technologies, which represents an important asset supporting the company’s regional expansion strategy, Poiroux said.
