Cairo: Minister of State for Military Production Salah Soliman Gomblat and Minister of Investment and Foreign Trade Mohamed Farid convened to discuss mechanisms for listing and promoting investment opportunities linked to military production companies on Egypt's investment map, aiming to attract investments and support local manufacturing across governorates.
According to State Information Service Egypt, this meeting took place at the Ministry of Military Production's headquarters in the New Capital. It was attended by Mohamed Awad, the Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI), alongside senior officials from both ministries. During the discussion, the Minister of State for Military Production emphasized the ministry's industrial and technological capabilities, highlighting the role of military production companies in advancing national industrial expertise. These companies are positioned to meet the needs of the armed forces and police, while also using surplus production capacity for civilian manufacturing and national development projects.
Gomblat outlined the ministry's strategy to maximize the use of underutilized industrial assets, land, and production lines. This strategy involves partnerships with state institutions and the private sector, aligning with state directives to strengthen local industry, increase the local component, and attract new investments.
Minister Farid acknowledged the advanced industrial capabilities of military production companies and the importance of expanding cooperation to attract quality investments and foster government-private sector partnerships. He emphasized the significance of offering investment opportunities and serviced land across various governorates through the investment map to support balanced regional development, local manufacturing, and export growth.
The meeting also touched on the prospects for expanding industrial cooperation with Belarus, amid interest from Belarus in strengthening economic and investment partnerships with Egypt. The session concluded with an agreement to continue coordination to support sustainable economic development, enhance the competitiveness of Egyptian industry, and improve the investment climate nationwide.