(MENAFN- Daily News Egypt) Egypt's Deputy Prime Minister for Industrial Development and Minister of industry and Transport, Kamel Al-Wazir, met with a delegation from Polish company PADMA, led by CEO Dariusz Krupa, to discuss the company's investment plans in Egypt's furniture manufacturing sector.
PADMA plans to establish a large industrial complex in New Alamein City, spanning over 400,000 square metres, with an investment of €70m. The complex will focus on producing furniture for export to Europe and the United States.
Al-Wazir highlighted the Egyptian government's commitment to supporting PADMA's investment. He assured the company of expedited industrial licensing processes and directed coordination with the General Authority for Investment and Free Zones to swiftly finalise the establishment of the company under a special free zone system.
Company officials praised the support they received from Al-Wazir, as well as the facilitation provided by the Industrial Development Authority, affiliated with the Ministry of Industry, regarding land allocation for the project. They also acknowledged the support from the New Urban Communities Authority, affiliated with the Ministry of Housing, and the General Authority for Investment and Free Zones (GAFI).
Al-Wazir emphasised the importance of diversifying the company's product range in Egypt, including doors, wall cladding, MDF flooring, and decorative items. He tasked the Industrial Modernization Centre with compiling a list of MDF wood production factories in Egypt to coordinate with PADMA for sourcing raw materials.
Al-Wazir also highlighted the significant investment opportunities within the Egyptian market, including incentives and infrastructure such as ports, roads, and utilities. He noted that New Alamein City is one of the most promising areas for industry and tourism, stating that the company would benefit from its factory's location to supply its products to New Alamein and the surrounding tourist regions.
Krupa, praised the company's commitment to rapidly investing in Egypt, recognising it as a promising market that aligns with the Egyptian government's plans to develop local industry.
Krupa stated that the company will leverage its leading capabilities to support and enhance Egyptian manufacturers, aiming to reach global standards and achieve the highest quality levels in this field.
He also mentioned that the company plans to generate €200m in annual exports to Europe, America, and Arab countries, especially since PADMA produces a range of products for major global furniture companies.
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