Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, attended on Sunday the inauguration of the region’s first plant dedicated to producing rapid diagnostic tests, operated by Spectrum Diagnostic Industries in the Ismailia public free zone. The project, with investment costs of $16.55 million, is part of the state’s drive to localise advanced medical and technological industries, reduce reliance on imports and strengthen Egypt’s export capacity.
Farid was joined by Health Minister Khaled Abdel Ghaffar, Industry Minister Khaled Hashem and Ali El-Ghamrawy, head of the Egyptian Drug Authority. He toured production lines and reviewed manufacturing stages, while company officials outlined the technology used and plans to expand output and develop new products for domestic and international markets.
The minister said the government attaches priority to attracting investment in strategic sectors, particularly medical industries, given their growth potential and role in technology transfer, local manufacturing and export promotion. He noted that the ministry is finalising a foreign direct investment strategy to identify the most promising sectors for international promotion.
The minister also stressed that the launch of the first rapid diagnostic test factory in Egypt and the Arab world reflects investor confidence in the Egyptian economy and the success of efforts to create a supportive investment climate. He added that the ministry continues to work on improving the business environment, simplifying procedures and supporting investors, while encouraging expansion in technology-driven industries.
Spectrum Diagnostic Industries manufactures rapid medical tests, laboratory devices, sample collection tubes and related storage activities. The project, built on 1,994 square metres, provides 38 jobs and holds a licence valid until 2050.
Farid confirmed the ministry’s commitment to backing advanced technology investments to enhance competitiveness, boost exports and create skilled jobs, positioning Egypt as a regional hub for medical and technological industries. He also pointed to the development of an economic entities platform to accelerate licensing and post-establishment services, and stressed the importance of export quality testing to sustain Egypt’s presence in global markets.
