Thursday 21 Nov
Minister of the Public Business Sector, Dr. Mahmoud Essmat met with Governor of Port Said, Major General Adel Al-Ghadban and his delegation at the ministry's headquarters in the New Administrative Capital.
The meeting, which included Chairman of the Holding Company
for Chemical Industries, Emad Mustafa focused on investment opportunities in
Port Said. These opportunities include:
The tire industry for vehicles and small means of
transportation,
Utilizing and maximizing returns for assets owned by
subsidiaries, particularly the Holding Company for Chemical Industries and
Nasr Shipping Company,
and investment in the tourism and hotels
sector, aligning with Port Said Governorate's development plan.
Dr. Essmat emphasized the Ministry's commitment to
supporting development plans in the governorates through development,
investment, and service projects. This will contribute to achieving a decent
life for citizens and ensure the efficient use of the subsidiaries' assets and
maximizes their economic returns.
He pointed out that the assets owned by the subsidiaries have
been identified and specific plans developed for their optimal investment. He
added that many investment opportunities are being offered for partnership with
the private sector. There are also a number of projects being implemented by
the companies in Port Said Governorate, especially in the hotel and chemical
industries sectors. He also pointed out the readiness to support, assist, and
provide the necessary expertise to contribute to the continued success of the
pioneering tire manufacturing experience in the governorate.
Major General Adel Al-Ghadban stressed the importance of
maximizing the utilization of the Ministry of Public Business Sector's assets.
The meeting, he said, discussed mechanisms to strengthen the partnership
between the governorate and the ministry. This partnership will focus on
establishing investment projects and leveraging the subsidiaries' expertise to
expand the tire industry and add new production lines. He further emphasized
the governorate's support for private investment to localize modern technology,
particularly in tire manufacturing.
Localizing rubber production to meet industry needs was also
highlighted as a key strategy to reduce imports, conserve foreign currency, and
satisfy the local market.
