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Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib met with officials from Türkiye's Eczacibasi Holding Group to discuss investment and manufacturing expansion opportunities in the Egyptian market and explore ongoing and future partnerships in the building materials sector and other industrial sectors, as per a statement.
Discussions reviewed the group’s operations in Egypt, where it deals with the country as a manufacturing and export base serving markets such as Türkiye, the European Union (EU), and Gulf Cooperation Council countries (GCC).
This approach relies on local production partnerships that manufacture products in line with the group’s quality standards and under its brand, supporting Egypt’s export activity and regional supply chains.
El-Khatib outlined Egypt’s investment framework, highlighting production costs, workforce availability, and energy pricing as factors influencing industrial investment decisions.
He said Egypt maintains a competitive position within the region, as the government is pursuing a policy that supports the private sector as a driver of economic growth.
He noted that recent reforms have focused on clarity in monetary and fiscal policy to improve business conditions and investor confidence.
He added that fiscal policy has been adjusted in coordination with the Ministry of Finance, including measures to simplify the tax system and reduce administrative burdens.
El-Khatib also referred to progress in digitizing government services, which has reduced the time and cost of trade-related procedures by about 65% over the past year.
The government is targeting a further reduction through the removal of non-tariff barriers and the launch of a unified digital platform covering more than 460 services and permits, aimed at improving trade processes.
El-Khatib also discussed the government’s approach to linking investment and trade more closely, with less reliance on tariffs.
He pointed to plans to expand access to African markets, allowing companies operating in Egypt to benefit from trade agreements and existing infrastructure.
The minister said Egypt aims to strengthen its role as an industrial and logistics hub serving the Middle East, Africa, and Europe, noting ongoing developments in economic relations with Türkiye based on industrial cooperation.
Eczacibasi's representatives said recent infrastructure and business environment developments in Egypt have prompted a review of expansion plans.
They identified building materials, pharmaceuticals, consumer goods, mining, and renewable energy, including solar projects, as sectors of interest.
The meeting also covered the group’s supply and contract manufacturing activities in Egypt.
Company representatives said these activities increased significantly last year, nearly tripling compared to previous years, and now account for a larger share of the group’s export operations, reflecting confidence in local production capacity.
