Cairo: Minister of Industry Khaled Hashem announced that Egypt is actively seeking to attract more German companies, particularly small and medium-sized enterprises and firms specializing in advanced technologies. The goal is to transfer technology and expertise, enhance local manufacturing, and expand private-sector partnerships between the two countries.

According to State Information Service Egypt, during a meeting with representatives from 11 German industrial companies, Hashem emphasized Egypt's advantages, including its infrastructure, skilled workforce, trade agreements, and strategic location. These factors make Egypt an appealing destination for German investors looking to access Middle Eastern and African markets.

Hashem noted that trade between Egypt and Germany reached approximately 6 billion pounds last year. He also mentioned that the ministry is implementing a program to develop local suppliers and integrate them into global supply chains. This initiative includes incentives for major companies to foster the development of Egyptian suppliers.

The minister introduced the "Qima" certification system, which will link industrial incentives to higher local content, deeper manufacturing, supplier development, technology investment, research and development, and workforce training. Additionally, the Automotive Industry Development Program (AIDP) is designed to attract global manufacturers and expand the localization of vehicle production and related industries, with increased incentives based on local content and supply-chain localization.

Recent announcements by international companies regarding new investments in tire manufacturing, electric vehicle batteries, and production lines in Egypt reflect opportunities for growth in the automotive and related industries. Companies present at the meeting included BSH, DMG Mori, Heidelberg Materials, Knauf, Leoni Egypt, Mercedes-Benz, Siemens, and Villeroy and Boch, some of which already operate in Egypt, while others are considering new investments.

German Ambassador to Egypt Jrgen Schulz expressed Germany's eagerness to expand economic and industrial cooperation with Egypt. He highlighted opportunities to support skills development, industrial localization, and technology transfer, aiming to increase the presence of German companies in the Egyptian market.