2024/08/19

Investment Minister meets with Nissan, discuss future plans

Minister of Investment and Foreign Trade, Engineer Hassan Al-Khatib, held a comprehensive meeting with a Nissan Motor Egypt delegation led by Managing Director Engineer Mohamed Abdel-Samad. The discussion focused on the company's current operations and future expansion plans in the Egyptian market. Economic Advisor to the Prime Minister Dr. Jihan Saleh, Head of Agreements and Foreign Trade Sector Dr. Amani Al-Wosal, and Head of the Central Administration of Trade Agreements, Gomaa Madani, were also present.

The Minister emphasized the government's commitment to creating a conducive investment climate by eliminating obstacles and reducing investor burdens through close collaboration with government agencies. He highlighted the ministry's efforts to optimize the benefits of trade agreements and leverage international accords to safeguard investments and domestic industries. Al-Khatib directed officials to expedite customs clearance procedures for investors importing services, production inputs, machinery, and equipment. He stressed that streamlining customs processes is crucial for reducing production costs and enhancing the competitiveness of Egyptian industries in the local market.

He emphasized that all ministry departments are dedicated to providing comprehensive support to exporters, aiming to enhance the ability of Egyptian companies to penetrate foreign markets and capitalize on the benefits of Egypt's extensive network of free trade agreements. He ministry is also actively working to address challenges faced by both investors and exporters.

Engineer Mohamed Abdel-Samad, Managing Director of Nissan Motor Egypt, outlined the company’s investment strategy for the upcoming period. This includes introducing a new Nissan model for both the domestic and export markets, as well as significant investments in infrastructure. The company plans to construct a power generation plant to achieve self-sufficiency by 2025 and implement a wastewater treatment system for irrigation purposes. Additionally, Nissan Motor Egypt aims to enhance human capital development by establishing a technical school.