(MENAFN- Daily News Egypt) Egypt's Minister of investment and Foreign Trade, Hassan El-Khatib, met with a delegation from Nissan Motor Egypt to discuss the company's current and future plans in the Egyptian market.
The Monday meeting, which was attended by a number of government officials, focused on ways to facilitate investment and enhance the business environment for companies like Nissan.
Investment Minister discusses plans with Nissan Motor Egypt officialsEl-Khatib highlighted the government's ongoing efforts to streamline investor processes and remove obstacles by reducing burdens and working with state agencies. He emphasised the ministry's commitment to maximising the benefits of trade agreements and using international agreements to protect investments and local industry.
“We are working to reduce the time for customs clearance, which significantly impacts production costs,” El-Khatib said, adding that this is essential for enhancing the competitiveness of Egypt's national industry in the local market.
He also directed officials to facilitate processes for investors, particularly in importing services, production supplies, machinery, and equipment.
El-Khatib noted that the ministry is committed to providing full support to exporters, aiming to increase the ability of Egyptian companies to access foreign markets. This includes leveraging Egypt's network of free trade agreements with numerous trade partners and working to remove obstacles faced by both investors and exporters.
The meeting was attended by Gehan Saleh, Economic Advisor to the Prime Minister, Amani El-Wassal, Head of the Agreements and Foreign Trade Sector, and Gomaa Madani, Head of the Central Department of Trade Agreements.
Mohamed Abdel Samad, Managing Director of Nissan Motor Egypt, outlined the company's investment plans for the coming period, which include investing in a new Nissan model for sale in the local market and for export to international markets.
The company also plans to invest in infrastructure projects, including the development of a power generation plant aimed at achieving self-sufficiency by 2025, wastewater treatment for irrigation purposes, and investment in human resources by establishing a technical school.
Nissan Egypt announced plans to invest $55.9m by 2026 to strengthen its position in the Egyptian market and boost local manufacturing, during a meeting with Prime Minister Mostafa Madbouly on Sunday.
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