Egypt's General Authority for Investment and Free Zones is exploring cooperation with Indian company Motherson, which specializes in automotive and aircraft components. The meeting took place on the sidelines of the first edition of the El Alamein-African Business Forum. Dr. Mohamed Awad, CEO of the Investment Authority, and Walid Anwar, Deputy CEO, met with Motherson's representatives to discuss potential investments in Egypt.
The Investment Authority is promoting Egypt as a hub for investment and trade in Africa. During the forum, Dr. Awad held several meetings with international companies and institutions to discuss cooperation and investment opportunities. One of the meetings was with Omar Rkash, General Manager of the Algerian Agency for Investment Promotion, to enhance trade and investment cooperation between Egypt and Algeria.
Motherson's team expressed interest in studying investment opportunities in the Egyptian market. Gautam Manga, head of business development at Motherson, met with Dr. Awad, who offered support for the company's investment plans. The Investment Authority highlighted the potential of Egypt's engineering and automotive industries.
The Investment Authority presented Egypt's investment systems and their benefits to Motherson's representatives. Walid Anwar emphasized the advantages of the free zone system for companies aiming to export to external markets. This system allows companies to benefit from Egypt's strategic location and competitive workforce.
Dr. Awad also met with Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, and Hisham Al-Maairiji, Deputy President of the African Export-Import Bank (Afreximbank). They discussed cooperation in supporting startups and small and medium-sized enterprises, as well as increasing Egyptian companies' access to African markets.
On the sidelines of the forum, Dr. Farid Saleh and Dr. Awad met with Sheero Aquino, head of the Middle East and Africa region at the Italian Export Credit Agency (SACE). They explored ways to enhance cooperation in investment, trade, infrastructure, environmental sustainability, and technological innovation.
The meetings aim to strengthen economic ties between Egypt and other African countries, as well as with international companies. Egypt's Investment Authority is committed to providing support and incentives for investors interested in the country's growing industries. The authority's efforts are expected to contribute to Egypt's economic growth and development.
Key points
- Egypt's Investment Authority meets with Indian company Motherson to discuss investment opportunities in the automotive and aircraft industries.
- The Investment Authority promotes Egypt as a hub for investment and trade in Africa.
- Egypt's engineering and automotive industries have significant potential for growth and investment.
