Deputy Prime Minister for Economic Affairs Hussein Eissa reaffirmed the Egyptian government's commitment to implementing a comprehensive program to support investment, improve the business climate and provide incentives aimed at attracting high-quality investments, transferring advanced technologies and localizing strategic industries.
Eissa made the remarks during a meeting at the government headquarters in the New Capital with a high-level delegation from China National Tire & Rubber Co. Ltd., one of China's largest tire manufacturers and a global industry leader, to discuss the company's plans to expand its operations and increase investments in Egypt.
Eissa praised the company's interest in expanding its presence in Egypt, highlighting the deep-rooted ties between Egypt and China and the continued growth of their comprehensive strategic partnership. He expressed Egypt's desire to attract further Chinese investments that would contribute to technology transfer, industrial localization, job creation and export growth.
Eissa stressed that the industrial sector remains a top priority for the Egyptian government as a key driver of economic growth, exports and employment. He noted that tire manufacturing is a strategic industry linked to multiple productive and service sectors and plays an important role in reducing reliance on imports.
He added that Egypt possesses all the advantages needed to become a regional hub for tire manufacturing, including its strategic geographic location, advanced infrastructure, modern logistics network and free trade agreements that provide access to numerous international markets.
Egypt advises citizens to postpone travel to Ebola-hit regions amid global alert Egypt advises citizens to postpone travel to Ebola-hit regions amid global alert