Public Business Sector Minister Mahmoud Esmat affirmed his ministry’s keenness on developing transport and engineering company to expand the production of tires in order to meet local market’s needs.
The move also falls within the framework of the State’s policy and directives issued by President Abdel Fattah El Sisi to support local industry and bridge the gap between exports and imports, added the minister.
Esmat made the remarks during his meeting with Italian Ambassador to Egypt Michele Quaroni along with representatives from one of the mega Italian companies operating in manufacturing tires, the ministry said in a statement on Thursday.
The meeting came as part of the State’s keenness on supporting the industrial sector, enhancing participation with the private sector, and luring foreign investment, added the statement.
The Italian ambassador, for his part, hailed the efforts exerted by the Public Business Sector Ministry in luring foreign investments and carrying out projects in several spheres.
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