Minister of Trade and Industry Tarek Kabil said that the coming period will see new Polish investments in many Egyptian production and service sectors.
Kabil met with a Polish business delegation, which visited Cairo on 26 February, to explore the investment opportunities available in the Egyptian market.
The delegation was led by Janusz Wisniewski, vice president of the Polish Chamber of Commerce, and included five of the top Polish companies operating in the fields of car parts assembly and manufacturing, railways, and mining.
Among these companies is Boryszew, the third largest car parts manufacturer in Poland, which is considering launching auto parts manufacturing projects in Egypt, as well as a plant to produce engine oil coolers.
“The government has gone a long way in creating a better investment climate in Egypt, through a raft of measures that would streamline procedures for local and foreign investors,” Kabil stressed during the meeting.
The delegation also included Baterpol Group, which seeks to establish a factory for car battery recycling with the aim to produce polyethylene and polypropylene. Another compnay, Huta Bankowa, is considering an integrated plant for the production of tramway and railway wheels.
“Many Polish companies are looking forward to participating in Egypt’s megaprojects currently underway, on top of which is the Golden Triangle, as well as in developing railways and their infrastructure,” Wisniewski said.
Following the meeting, Egyptian Businessmen Association (EBA) Chairperson Ali Eissa said the association intends to organise intensive meetings with the Polish companies to discuss boosting cooperation between the private sectors in both countries.
On the other hand, Egyptian Commercial Service Head Ahmed Antar said that the February visit of Polish companies followed a recent visit by an Egyptian delegation to Poland last October, when they participated in the opening of the European SME Forum held in Warsaw.