CAIRO - 27 November 2024: Hassan El-Khatib, Minister of Investment and Foreign Trade, met with Hichem Elloumi, Chairman of Coficab, a leading global company from Tunisia specializing in automotive cables and electrical harnesses.
The discussion centered on the progress of Coficab's $50 million factory project in the 10th of Ramadan City.
El-Khatib reaffirmed Egypt’s commitment to advancing the automotive industry and its supporting sectors as key pillars of the national economy.
He highlighted the government’s focus on attracting both local and foreign investments and boosting exports, aligning with a broader strategy to localize automotive manufacturing, particularly electric vehicles, through partnerships with experienced global companies.
The minister underscored the unique advantages of the Egyptian market, including its strategic location, skilled workforce, and competitive operating environment, making it a prime destination for investments. He emphasized the government’s efforts to enhance the business climate and simplify procedures to solidify Egypt’s position as a regional hub for trade and investment.
El-Khatib assured Coficab of the government’s unwavering support, commitment to overcoming challenges, and facilitation of the project’s development and operations in Egypt.
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