Egypt's Minister of Industry, Khaled Hashem, met with representatives of Elaraby Group, led by CEO Mohamed El-Araby, to review current operations, future expansion plans, and production challenges. The meeting covered upcoming projects in New Quesna City involving investments of about $480 million over the next five years, aimed at bolstering the home appliance sector and increasing local content to up to 90%.
The meeting saw Elaraby Group detail its upcoming projects in New Quesna City, emphasizing efforts to strengthen Egypt's home appliance industry, boost export volumes, and elevate the local content ratio in products to as high as 90%. This advancement underscores the group's strategy to localize supply chains, cut dependence on imports, reduce input costs, and add greater value to the Egyptian economy, all while enhancing the global competitiveness of domestically produced goods.
Discussions also covered the company's research and development (R&D) activities, which include certified R&D centers focused on product development and innovative designs that meet international standards and adapt to changing market needs. These initiatives leverage skilled Egyptian talent to bridge scientific research with industrial applications, promoting technology transfer and localization.
Hashem stated that the Ministry of Industry has agreed with the Ministry of Higher Education and Scientific Research on a new framework to better connect academic research outputs with industrial requirements. The framework is built on two key pillars: first, collecting and assessing research proposals pertinent to major industrial sectors, evaluating their technical and economic viability, and offering feasible projects to manufacturers for adoption; second, methodically pinpointing factories' needs—ranging from product development and process improvements to technology localization—and guiding universities and research centers to tackle these priorities.
He further noted that sustainable funding mechanisms would be established in coordination with the Ministry of Finance to back priority applied research projects and convert their outcomes into industrial uses. The effort seeks to deepen local manufacturing, heighten value addition, and bolster the competitiveness of Egyptian industry in regional and global markets.
The minister reaffirmed the ministry's complete commitment to aiding the group's expansion in Egypt, promising to streamline licensing processes, collaborate with relevant authorities to address potential hurdles, and offer full support to hasten project rollout and production. He mentioned that field visits to the group's factories are scheduled to track progress and evaluate the rollout of new investments.