The Minister of Public Business Sector, Mahmoud Esmat, revealed the ministry’s tendency to expand the manufacture and production of car tires locally, in cooperation with one of the major Italian companies specialized in the field.
This came during his meeting with the Italian ambassador in Cairo, Thursday.
“We seek to revive the Transportation and Engineering Company, and expand in the field of manufacturing car tires, to meet the needs of the local market, within the framework of state policy and the directives of President Abdel Fattah El-Sisi to support local manufacturing and localize technology to reduce the import gap and replace imports,” Esmat said.
The minister affirmed the state’s interest in the industrial sector, supporting partnership with the private sector, and opening the way for foreign investment.
“There are many areas through which cooperation with the Italian side can be achieved, foremost of which is the tire production industry, in addition to other fields such as the fertilizer industry, spinning and weaving, metallurgical industries and agricultural production,” the minister added.
He explained that there are preliminary studies and indicators that were reviewed and discussed with the Italian ambassador and his accompanying delegation.
Source: Egypt Today Magazine