OPEN// Egypt set to become regional industrial hub across ME, Africa
10TH OF RAMADAN CITY, Egypt, June 28 (MENA) - Prime Minister Mostafa Madbouly stressed on Saturday that Egypt is on track to becoming a true regional hub for industry in various sectors across the Middle East and Africa, thanks to its success in attracting leading global manufacturers.
In a press conference following the inauguration of the Bosch home appliances factory in 10th of Ramadan City, Madbouly extended his greetings to President Abdel Fattah El Sisi and the Egyptian people on the upcoming anniversary of the June 30 Revolution, describing it as a cherished milestone that set Egypt back on the right course.
The prime minister noted that the newly inaugurated Bosch facility represents the third major plant in Egypt's home appliances sector, following earlier inaugurations of the Chinese company Haier and Turkey's Beko.
He underlined that these achievements were the result of the Egyptian state's proactive approach, personally reaching out to top executives and convincing them of Egypt's strong appeal as an investment destination.
Madbouly explained that the government succeeded in granting these companies direct land allocation and the golden license, while removing all obstacles to expedite the establishment of their factories. "As a result, Egypt is not only becoming a center for local manufacturing, but also a strategic industrial hub serving the broader Middle East and Africa."
He highlighted that the inauguration of these plants comes amid intensive efforts by the government and daily follow-up by President Sisi, who is deeply committed to advancing Egypt's industrial renaissance.
Madbouly added that the Bosch plant was constructed under the highest international standards and currently employs around 1,000 Egyptians who have been trained to deliver products matching the quality of the company's factories worldwide.
He pointed out that half of the plant's annual output of 350,000 cookers is earmarked for export, while local components now account for nearly 50% of the product, expected to rise to 70% within two years. (MENA)
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