The Egyptian Prime Minister, Dr. Mostafa Madbouli, accompanied by Minister of Housing, Utilities and Urban Communities, H.E Eng. Asim Al-Jazzar, and Mr. Hisham Heiba, CEO of the General Authority for Investment, embarked on a significant visit to the industrial city “Industria West” in the 10th of Ramadan City. Industria West, which is 50% owned by Elsewedy Group of Companies, spans an impressive area of one million square meters. The purpose of the visit was to promote foreign direct investment and explore the thriving industrial landscape of Egypt.
Encouraging Investment in Egyptian Industrial Zones
The tour, led by Prime Minister Dr. Mostafa Madbouli, aimed to encourage foreign direct investment in Egypt’s industrial sector. The delegation had the opportunity to visit prominent factories, including the renowned L’Oreal factory. L’Oreal, a French company specializing in cosmetics production, exports 85% of its products to the Middle East and North Africa. The visit showcased the success of foreign companies in the Egyptian market and highlighted the country’s attractiveness as an investment destination.
Exploring Technological Excellence in Industria Asher
During the visit, the delegation also toured the factory of Sumitomo, a Japanese giant in the automotive industry, known for manufacturing automotive wiring systems. The presence of such globally recognized companies within Industria West underscored Egypt’s ability to attract major players in diverse sectors and foster technological advancement.
Elsewedy Industrial Development’s Expansive Portfolio
Elsewedy Industrial Development, a subsidiary of Elsewedy Electric, holds an extensive landbank in Egypt and Africa, making it the largest portfolio owned by an industrial development company in Egypt. Their impressive projects include Industry East, Industria West in the 10th of Ramadan City, Industria Sokhna, SOKHNA360, Industria Sadat, Industrial Alamein, and the Egyptian Industrial City (EIC) in Tanzania. The presence of Elsewedy Group’s Industria West showcased the company’s commitment to driving industrial growth and attracting investment to Egypt.
Promoting Economic Prosperity: Encouraging Foreign Direct Investments
The visit by the Egyptian Prime Minister and the accompanying delegation demonstrated the government’s dedication to promoting economic prosperity through industrial development. By showcasing successful industrial zones and attracting globally renowned companies like L’Oreal and Sumitomo, Egypt aims to position itself as an attractive investment destination. The visit to Industria West, a prime example of Egypt’s industrial potential, emphasized the country’s commitment to fostering an investor-friendly environment and driving economic growth.
The Egyptian Prime Minister’s visit to Industria West in the 10th of Ramadan City highlighted the government’s commitment to promoting foreign direct investment and fostering industrial development in Egypt. The tour of L’Oreal and Sumitomo factories showcased the success of international companies in Egypt’s industrial landscape. With Elsewedy Industrial Development’s expansive portfolio and projects like SOKHNA360 and Industria Sadat, Egypt continues