PM follows up on timetable set to implement several projects

Egyptian Prime Minister Moustafa Madbouli has followed up on the timetable set to implement a number of projects, which were announced by several companies over the past period.

This came during Madbouli’s meeting Monday evening, with representatives of nine local and foreign companies to follow up on the rates of implementation of new projects that were announced by these companies over the past period.

Several MoUs were signed to implement projects that cover electrical household appliances, fertilisers, chemicals, construction chemicals, automotive components and car braids, ready-made garments, information technology, pharmaceuticals, and vaccines.

The meeting, held at the premises of the General Authority for Free Zones and Investment (GAFI), was attended by GAFI Chairman Mohamed Abdel Wahab, along with general manager of Haier Egypt Ahmed el Gendy, CEO of Emirati fertiliser company CFC Group Ahmed Khalifa, General Manager of Beko Egypt Ümit Günel and Mapei Middle East and East Africa Regional Director, Stefano Iannacone.

The meeting also saw the presence of Managing Director of Sumitomo Egypt Ahmed Magdy, General Manager of Japanese company Yazaki Europe Limited office in Egypt Ahmed Badawi, President of Alex Apparels Ihab Mohi, Chairman and CEO of Benya Group Ahmed Mekki and General manager of Gennecs Holding Nibal Dahaba.

During the meeting, Madbouli said that he was keen on following up on the executive position of projects in which preliminary memoranda of understanding (MoUs) have been signed during the last period.

Madbouli also said that the meeting reviewed the new investments that the companies plan to pump into the Egyptian market over the upcoming period.

The premier stressed the importance of such projects, which include direct investments amounting to nearly $1 billion and secure 35,000 new jobs.

The State is keen on stimulating local industry, Madbouli said during the meeting, adding the State is ready to issue immediate licenses to serve the national industry and the various sectors.