Sisi stresses Egypt’s keenness on localizing manufacturing in meeting with foreign companies

Sisi stresses Egypt’s keenness on localizing manufacturing in meeting with foreign companies

Egypt's President Abdel-Fattah El-Sisi stressed the centrality of the principle of localizing manufacturing and transferring technology in the state's dealings with foreign companies operating in various fields in the country.

The president's comments came during a meeting with heads and representatives of four foreign companies working in the country and state officials.

The meeting was attended by representatives of German KSB Group, Hungary's Ganz Works, Czech's Sigma Group a.s. and Japanese Torishima Pump, Presidential Spokesman Bassam Rady said.

The meeting addressed ongoing work on pumping water to stations carrying irrigation water from Bahr El-Baqar drain for the cultivation and land reclamation works in central and north Sinai, Rady added.

Major international, specialised, highly-experienced companies operating in Egypt are engaged in these efforts, said Rady.

During the meeting, El-Sisi affirmed a broad scope exists for the activities of these foreign companies in Egypt, in light of the huge and diverse investment opportunities made available by ongoing major development projects nationwide.

These projects include agricultural land reclamation, the transportation of water from sewage and water treatment plants, along with other projects, El-Sisi explained.

The meeting was also attended by Presidential Advisor for Urban Planning Amir Ahmed, Head of the Engineering Authority