CAIRO, Nov 26 (MENA) – President Abdel Fattah El Sisi has reaffirmed Egypt’s keenness to enforce economic partnerships with regional and international entities to serve the interests of the state and investors.

The president’s remarks came on Tuesday during a meeting with heads of major global companies operating in the industry sector on the sidelines of their participation in the Third Annual International Industry Forum and Exhibition, held in Egypt on Nov. 25-27.

The meeting was also attended by Prime Minister Mostafa Madbouly, Deputy Prime Minister for Industrial Development Industry and Transport Minister Kamel el Wazir and President of the Federation of Egyptian Industries (FEI) Mohamed Zaki el Sewedy.

President El Sisi stressed Egypt's keenness to exert all efforts to stimulate the industrial sector, with the aim of localizing the industry, encouraging the use of technology in industry, developing specialized technological industries, as well as enhancing small and medium-sized industries and increasing their competitiveness.

The President referred to the steps taken by Egypt to improve the investment climate, remove obstacles facing investors, and improve the business environment, stressing that the Egyptian government will continue to make efforts and to take the necessary decisions and measures to remove obstacles facing investors.

The President noted that in order to confirm its commitment to supporting the industrial sector, the state is ready to enhance cooperation with the foreign private sector by effectuating joint projects, in a way that ensures the transfer of expertise to Egyptian workers, stressing that these projects must target a significant and tangible increase in the local component in final products, and the localization of the production requirements industry.

President El Sisi also stressed that there were multiple sectors among Egypt's priorities to localize industry, including investment in providing water desalination and recycling requirements, to support relevant national projects.

The Spokesman for the Presidency Ambassador Mohamed el Shenawy, said the heads of the companies in attendance noted the great efforts made by the Egyptian government to improve the investment climate and enhance partnership with the private sector, reviewing the available opportunities for cooperation between the two sides, and stressing their keenness to develop cooperation with Egypt in a way that achieves mutual interests.

The heads of companies specialized in the sectors of automotive manufacturing and supporting industries, home appliances, engineering industries, wood and furniture industries, food industries, textile industries, cosmetics industry, construction sector and desalination plants, engaged in a discussion with the President, during which they stressed their keenness to respond to the state’s policy of localizing industry, and increasing local production in manufacturing, and expressed their appreciation for the facilitations and tax exemptions provided by the state to encourage investment, according to the spokesman. (MENA)
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