- Sign MoU with Business France to promote joint business initiatives and optimize gains for their respective counterparts in Egypt, Africa and Middle East
Cairo, Egypt: Elsewedy Industrial Development (SD), a leading regional industrial park developer, service provider and subsidiary of Elsewedy Electric, kickstarted one of their biggest roadshows across Europe, in Paris, France on yestarday during the ‘French Egyptian Commercial and Industrial Day’. As a part of this remarkable initiative, Eng. Ahmed Elsewedy, President and CEO of Elsewedy Electric and Chairman of Elsewedy Industrial Development, and Eng. Mohamed El Kammah, CEO of Elsewedy Industrial Development met with key representatives from the French industry to promote Egypt as a significant investment destination, as well as highlighting Elsewedy Industrial Development’s broad scope of businesses. The roadshow will continue through Munich, Stuttgart and Düsseldorf in Germany, over next few days.
In light of the long-standing bilateral relations between Egypt and France and the emerging opportunities in Egypt, Elsewedy Electric signed a memorandum of understanding (MoU) with its clients Business France, a key player who is enhancing French exports and investments worldwide and foreign investments in France. This MoU aims at promoting joint business initiatives and opportunities between the two organizations through combined efforts. As a part of this agreement the companies will also, employ their capabilities to expand cooperation and optimize gains for their respective counterparts in Egypt, Africa and Middle East.
“Now, more than ever, fostering business relationships in Africa, and notably Egypt, is among our priorities for French investors,” said Mr. Philippe Garcia, Commercial Counsellor at the French Embassy in Egypt and Business France Director. “Our objective is to position Paris as the European destination for venture capitalists from Africa. The signing of this MoU plays an important role in the exchange of investment information and opportunities between French investors and the significant opportunities available in Egypt and Africa.”
The objective of the event is to raise awareness around Egypt's geo-economic importance and exploring opportunities for investment in the imports and exports of products and services with Egypt as well as key sectors for investment and development with more than 150 EU dignitaries, diplomats, investors, bankers, manufacturers and key business decision makers. Several dignitaries and diplomats spoke at the event including His Excellency Mister Stéphane Romatet, French Ambassador in Egypt; His Excellency the Egyptian Ambassador in France; Mister Christophe Lecourtier, CEO of Business France and Mister Phillipe Garcia, Commercial Counsellor of the French Embassy in Egypt. Eng. Ahmed El Sewedy shared his perspective as an investor in the Egyptian market and the significant business opportunities available in Egypt. The event was followed by a series of fruitful business to business meetings to answer questions and share mutual expertise.
“As a pioneer in the areas of energy solutions and infrastructure, Elsewedy Electric plays a key role in highlighting Egypt’s diverse investment opportunities and prospects to the world,” said Eng. Ahmed El Sewedy, President, and CEO of Elsewedy Electric. “The same value we bring to our clients – strong geographical presence and deep market insight, world-class technical and commercial competencies, are mainstays of the Egyptian investment experience as well. With a prime geographic location, strong and mutually-beneficial free tariff agreements with neighbor countries, Egypt is positioned as a key industry hub for the Middle East and North Africa”.
Going forward, Elsewedy Industrial Development and Elsewedy Electric will be taking their expertise to Germany in cooperation with key partner, Ghorfa Arab-German Chamber of Commerce and Industry. The roadshow will continue to highlight efforts made by the Egyptian government to support ease of investment in Egypt’s new industrial zones. Eng. Mohamed El Kammah, CEO of Elsewedy Industrial Development will participate in a panel discussion to present the portfolio of products and solutions to key prospects and interested manufacturers. Elsewedy Industrial Development builds fully fledged sustainable industrial and logistics parks capitalizing on more than a decade of diverse experience. With 5 industrial cities in operation and a land bank of 25 million sqm across 10 projects in Egypt and Africa, Elsewedy Industrial Development provides state-of-the-art infrastructure and manufacturing facilities, utilities and value-added service offerings for over 250 clients including L’oreal, Mantrac, Kapci, Indomie, and many others.
About Elsewedy Electric:
ELSEWEDY ELECTRIC (EGX: SWDY.CA) is a leading provider of integrated energy solutions in Africa and the Middle East, and a significant contributor to economic growth in EGYPT. The Company has a portfolio incorporating all traditional and renewable energy areas along with related services. It is one of the largest worldwide manufacturers of cables and meters, especially smart meters. It is also one of the regional and continental leaders in electrical contracting and manufacturing of transformers, insulators and other electrical products. With a wealth of local experience and manpower, ELSEWEDY ELECTRIC is committed to help provide the countries, in which the Company operates, with a reliable and affordable power supply. In fiscal 2018, which ended on 31st of December 2018, ELSEWEDY ELECTRIC generated revenue from continuing operations of EGP 42.5 billion and net income of EGP 4.9 billion. At the end of December 2018, the company had around 14,000 employees worldwide. Further information is available on the Internet at www.elsewedyelectric.com
About Elsewedy Industrial Development:
Elsewedy Industrial Development subsidiary of Elsewedy Electric (EGX: SWDY.CA), is an integrated industrial developer in the region, committed to sustainable development to serve society in an efficient and ethically responsible manner. Building fully fledged, sustainable industrial cities capitalizing on its vast experience in manufacturing. Our key service offerings include master planning and consultancy, infrastructure work, construction management, engineering and design guidelines, The Company provides its investors with a fully integrated, state of art industrial park services, necessary utility facilities, outstanding infrastructure, and holistic manufacturing amenities. The Company owns a total land bank of 25 million spm, the largest land portfolio owned by an industrial development company in Egypt, with 5 operational industrial cities and new industrial cities under development in Egypt and Africa. Elsewedy Industrial Development projects are Industria West & Industria East, in the 10th of Ramadan industrial zone, Al Oula in 6th of October, New Sokhna, Industria 1, Sadat, and New Alamein. Further information is available at https://www.elsewedydevelopment.com/
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