
By Sama Marwan,
Engineer Hassan Al-Khateeb, Minister of Investment and Foreign Trade, held an extensive meeting with Omar Mahna, Chairman of Prometon Tire Egypt, and a Chinese delegation led by Wang Jianjun, Chairman of CNRC/Prometon, to discuss investment opportunities in Egypt’s tire manufacturing and export sector.
The minister emphasized the strategic efforts by the government to create a competitive and conducive work environment for achieving sustainable growth, highlighting the government’s role in ensuring fair competition across all production and service sectors.
Al-Khateeb also pointed out the importance of localizing industry, which contributes to reducing costs and improving efficiency. He noted that localizing production in Egypt benefits investors by lowering logistics and operational costs, in addition to contributing to the development of Egypt’s industrial base.
The minister highlighted the government’s efforts to simplify the tax system, reduce fees, and streamline regulatory procedures to ease the burden on companies and attract more foreign investments. He emphasized that the government continues to offer incentives to both local and foreign investors, ensuring that Egypt remains a competitive business destination.
For their part, Omar Mahna, Chairman of Prometon Tire Egypt, and Wang Jianjun, Chairman of CNRC/Prometon, expressed their confidence in Egypt’s growing investment potential. They confirmed their commitment to enhancing Prometon Tire Egypt’s operations in the country, contributing to meeting the local market’s tire needs and exporting to foreign markets.
The meeting was attended by Hossam Heiba, Chairman of the General Authority for Investment and Free Zones.