Egypt's Minister of Industry Khaled Hashem held talks with a delegation from China Baowu Steel Group, led by Chairperson Hu Wangming, to explore ways to strengthen industrial and investment cooperation. The discussions aimed at expanding investments in priority sectors including steel production.
Egypt's Minister of Industry, Khaled Hashem, met with a delegation from China Baowu Steel Group led by Chairperson Hu Wangming to discuss avenues for bolstering industrial and investment ties. The meeting included Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), Nehad Youssef, Head of the Industrial Development Authority (IDA), and senior Ministry of Industry officials. Hashem reaffirmed the ministry's dedication to fortifying Egypt's iron and steel sector, calling it a cornerstone of strategic industries such as automotive manufacturing and home appliances. He emphasized that steel products are vital for Egypt's industrial development goals, with the ministry prioritizing steel-dependent industries to boost exports to global markets. Hashem also pointed to Egypt's ample opportunities in infrastructure and manufacturing, noting government efforts to improve the business climate and support investors, particularly in steel production, green industries, and industrial supply chains. Hu Wangming highlighted Egypt's strategic location and market potential, stating the group's willingness to expand cooperation and align its strategies with Egypt's development priorities. He added that Baowu intends to apply its expertise in steel production, technology, and management to pursue joint projects that advance regional industrial growth and deepen economic links between Egypt and China.