Prime Minister Mostafa Madbouly has conducted a tour of the construction site for the world’s largest factory of Japan’s Sumitomo Corporation, specializing in the production of electric cables for cars and vehicles, located in the 10th of Ramadan City, Invest-Gate reports.

Accompanying him were Ahmed Samir, Minister of Trade and Industry, and Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI). The delegation was warmly received by Dave Whalley, Managing Director and CEO of Sumitomo Electric Europe; Ahmed Magdy, Managing Director of Sumitomo Electric Egypt; Mirsha Serbo, Chief Business Officer of Sumitomo; and Sebastien Riez, Cluster President of Schneider Electric Northeast Africa and Levant.

During the tour, Madbouly reiterated the government’s commitment to supporting the industrial sector through various state agencies. He emphasized ongoing efforts to provide additional facilities, incentives, and solutions to overcome any challenges hindering its growth. These measures aim to attract more investments to the sector, which plays a crucial role in achieving comprehensive development and realizing economic objectives.

Madbouly also emphasized the importance of industrial localization and the transfer of cutting-edge technologies to Egypt across various manufacturing fields. Such initiatives contribute to enhancing the competitiveness of local products and opening new export markets, aligning with President Abdel Fattah El-Sisi’s directives in this regard.

Furthermore, during the tour, reference was made to the visit of a significant delegation comprising 27 chairpersons and officials from international companies affiliated with Sumitomo International, representing Japan, England, Romania, and Morocco. They expressed their appreciation for the incentives and facilitations provided by the Egyptian government to the industrial sector.

The delegation commended the unprecedented government support, which facilitated the remarkable progress achieved in the construction of Sumitomo’s new factory in the 10th of Ramadan City. The factory is expected to commence production soon. The delegation also expressed their astonishment at the scale of the achievement and announced plans to transfer additional industries to Egypt.