(MENAFN- Daily News Egypt) Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, met with Ulric Shannon, the Canadian Ambassador to Cairo, to discuss strengthening cooperation in the fields of industry and transport.

Al-Wazir underscored his commitment to advancing collaboration between Egypt and Canada, highlighting significant investment opportunities in key sectors such as the automotive supply chain and renewable energy. He emphasized Egypt's strategic plan to revitalize its industrial sector and transform the country into a regional industrial hub.

The Deputy Prime Minister reaffirmed Egypt's openness to international partnerships, emphasizing directives to foster collaboration with global and local private sectors. He referenced the State Ownership Policy Document, which underscores the critical role of private sector engagement in driving industrial growth.

Al-Wazir pointed to Egypt's favorable investment environment, citing its skilled workforce, extensive transportation networks, and robust export infrastructure. He highlighted key Red Sea ports such as Safaga and Ain Sokhna, which streamline trade routes to African markets. Additionally, Egypt's membership in COMESA and its free trade agreements further enhance its position as a gateway for trade across the continent.

Inviting Canadian companies to invest in Egypt, Al-Wazir assured that the Ministry of Industry is ready to provide comprehensive support, including streamlined procedures and necessary facilities for manufacturers.

He noted Egypt's ongoing collaborations with leading international companies in the industry and transport sectors. Examples include partnerships with Hutchison Ports in Ain Sokhna, Alexandria, Dekheila, and Abu Qir; Eurogate Germany in Damietta; and CMA-CGM at the Tahya Misr multipurpose terminal in Alexandria Port.

The two sides agreed to intensify discussions in the coming months to establish frameworks for collaboration with Canadian companies, aiming to inject investments into Egypt and localize diverse industries.

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