PHOTO
Arab Finance: Guardian Glass discussed expansion plans in Egypt with the General Authority for Investment and Free Zones (GAFI), targeting the launch of its glass coating technology, which reduces electricity consumption by up to 40%, for the first time in Egypt and Africa, as per a statement.
Held in line with the Ministry of Investment and Foreign Trade’s vision to create an attractive and stimulating business environment for local and foreign investment, the meeting brought together Mohamed El-Gawasky, CEO of GAFI, with a Guardian Glass delegation.
Guardian Glass plans to expand coated glass production at Guardian Egypt to manufacture low-emission glass that provides effective thermal insulation while maintaining high levels of natural light. These products are designed to reduce indoor electricity consumption by up to 40%.
The company aims to launch the technology in the Egyptian and African markets by next June, expanding operations to serve domestic demand and exports to Africa, the Middle East, and Eastern Europe.
Moreover, Guardian Glass seeks to maximize the benefits of the highly skilled Egyptian workforce and the country’s trade links with numerous global markets, particularly the fast-growing African market, supported by Egypt’s strategic location and membership in the African Continental Free Trade Area (AfCFTA).
El-Gawasky said Guardian Glass stands to benefit from the Ministry of Investment’s plan to establish logistics zones in six African countries: Morocco, Côte d’Ivoire, Tanzania, Congo, Kenya, and South Africa.
The zones are expected to serve as gateways for Egyptian exports to African markets, with the ministry anticipating double-digit growth in exports to these destinations in the coming years.
The GAFI chief also reviewed government measures to integrate Egyptian industries, including the glass sector, into global value chains and export markets.
He noted that customs clearance time has been reduced to 5.8 days from about 15.8 days, saving around $1.5 billion in shipping costs for Egyptian companies and institutions.
He added that the government has invested $550 billion in infrastructure development, including roads and ports, to support investment.
