Egypt’s Minister of Industry Khaled Hashem held a meeting andSteve Hines, US Assistant Secretary of Commerce for Industry and Analysis, have probed ways of strengthening bilateral industrial ties.
The Thursday talks were attended by US Embassy representatives, senior ministry officials, and Ahmed Maghawry, Assistant Minister for International Cooperation.
Minster Hashem emphasised the importance of expanding the presence of US companies in Egypt, particularly in the seven priority sectors identified in Egypt’s updated industrial strategy, which aims to raise industrial exports to $100 billion by 2030.
He also highlighted opportunities in enabling industries, strategic sectors, and feeder industries, stressing that translating the strong bilateral relationship into concrete projects would benefit both economies.
Hashem noted that integrating advanced technologies, especially artificial intelligence, into industrial sectors is a top priority.
He pointed to Egypt’s plans to establish data centers and provide the infrastructure needed to adopt these technologies, offering US companies the chance to transfer expertise to the Egyptian market.
The also underlined Egypt’s competitive advantages, including strong infrastructure, investment incentives, free trade agreements, and strategic geographic location.
He urged faster action to encourage US firms to tap into these opportunities. He added that the ministry is focused on providing technical support to local companies, fostering partnerships with international development partners to transfer technology and knowledge, and facilitating the growth of small and medium enterprises as the backbone of industrial development.
For his part, Hines praised Egypt’s efforts to ease challenges facing industrial companies and expressed his country’s commitment to strengthening economic and industrial co-operation. He noted that US companies already operating in Egypt, particularly in automotive, agriculture, and food industries, offer successful investment models. He suggested focusing initial co-operation on three to five specific industries and highlighted US expertise in AI solutions that could enhance Egypt’s industrial processes.
The US official invited Hashem to visit the United States to present Egypt’s industrial strategy to government and business leaders, and to showcase opportunities for trade and investment in both markets.
