Egypt established a special unit for Turkish investments

Deputy Prime Minister of Egypt for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir met with representatives of nine Turkish companies operating in the textile, ready-made clothing, packaging and household appliances sectors in Egypt to discuss investment support and expansion plans.

At the meeting where Egyptian Industry and Transport Minister Kamel Al-Wazir and Turkish businessmen came together, strengthening existing investments in the Egyptian market and future opportunities were discussed.

The Turkish delegation at the meeting was chaired by Mustafa Denizer, the Chairman of the Turkish side of the Egypt-Türkiye Joint Business Council.

Speaking at the meeting, where he explained the challenges faced by Turkish companies in the Egyptian market, the Egyptian Minister recalled the history of constructive cooperation in various sectors and the long-term economic ties between the two countries, and reiterated the government's commitment to supporting investors in expanding their activities in Egypt.

A special working group was established for Turkish investors.

Kamel Al-Wazir announced the establishment of a working group, as directed by the Prime Minister, to monitor Turkish investments and address the challenges they face. This group will include key institutions such as the Ministry of Labor to facilitate solutions and increase Turkish exports from Egypt to global markets.

Al-Wazir ordered the preparation of a list of all Turkish investors who have purchased industrial land in Egypt, paid all their debts and quickly registered their actual contracts with the Ministry of Justice, as well as the preparation of a list of Turkish company officials and foreign workers in coordination with the Ministry of Labor to expedite the issuance of residence and work permits to them.

Solar power plants can be installed in factories without obtaining permission.

Egypt's Industry Minister announced that companies wishing to build private solar power plants at their factories can invest immediately without requiring approval from government authorities. This decision aligns with Egypt's efforts to reduce reliance on the national electricity grid while encouraging renewable energy investments.

Work permit procedures will be accelerated

The Minister also instructed the Ministry of Justice to compile a list of Turkish investors who have purchased industrial land, completed payments, and commenced production to expedite contract registration. He also called for a registry of Turkish company officials and foreign workers at these businesses, in coordination with the Ministry of Labor, to expedite the issuance of residence and work permits.

The Ministry of Industry is committed to providing industrial land and pre-licensed units in various governorates to attract new Turkish investments and facilitate the expansion of existing businesses. Al-Wazir emphasized that recent reforms aim to simplify industrial operations and ensure the long-term sustainability of infrastructure in industrial zones.

He also reiterated that export incentives will be determined based on key factors such as local component percentages, technological integration, and export volumes, in line with Egypt's strategy to promote export-led industrial growth.

'Turkish entrepreneurs have a strong desire to invest in Egypt'

Mustafa Denizer, Chairman of the Turkish side of the Egypt-Turkey Joint Business Council, said that Turkish companies operating in the Egyptian market are eager to increase their investments in Egypt and continue the success they have achieved in various fields in the past years.

Denizer emphasized the desire of many new Turkish investors to invest in Egypt, noting that Turkish companies operating in the ready-made clothing sector had organized a trade fair in Cairo and that if the current version was successful, they would repeat the fair on a larger scale.