Egypt promotes industrial ambitions through French, British partnerships

Egypt’s drive to revitalise its industrial base is becoming increasingly visible through a growing wave of partnerships with European investors, particularly from France and the United Kingdom. Recent meetings between Egyptian officials and foreign representatives have underscored how industrial development has moved to the forefront of the country’s economic strategy. During talks held in Cairo on Thursday, Industry Minister Khaled Hashem met French Ambassador Eric Chevallier to discuss expanding industrial co-operation and attracting further French investment into the Egyptian market. The discussions highlighted the scale of France’s economic presence in Egypt, where more than 200 French companies currently operate, including Schneider Electric, Saint-Gobain, Valeo and Alstom. Together, these firms provide around 50,000 jobs and continue to expand their local operations. Among the largest ongoing projects is Alstom’s industrial complex in Borg El Arab, which is expected to manufacture railway systems and transport components for both the domestic market and export. The talks extended beyond investment figures, with Egyptian officials placing particular emphasis on technology transfer, local manufacturing and technical training. The government is seeking to attract industries capable of increasing domestic production rather than simply assembling imported components. This approach is also reflected in co-operation in education and scientific research. Egypt and France are developing joint training programmes in transport, agriculture and tourism, while Alexandria University and Paris-Saclay University are collaborating on a technology incubator focused on artificial intelligence applications. The renewed industrial push comes amid a broader shift in Egypt’s economic thinking. Supply chain disruptions and regional tensions in recent years exposed the risks of heavy dependence on imports. In response, the government has placed greater emphasis on industrial production and integrating Egyptian manufacturers into global supply chains. A similar message emerged during talks on Wednesday between Foreign Minister Badr Abdel-Aati and British representatives. The discussions focused on boosting investment in Egypt’s automotive sector and other manufacturing industries, with Egypt seeking to position itself as a regional hub for vehicle production within the Suez Canal Economic Zone (SCZone). According to economic analyst Mohamed Hamza el-Husseini, Egypt’s new industrial strategy marks a departure from previous decades. Rather than dismantling earlier policies entirely, the new approach aims to build on past efforts while addressing longstanding obstacles facing investors, including difficulties surrounding licensing procedures. Challenges remain, particularly in relation to financing and rising production costs. Nevertheless, Egypt appears determined to establish industry as a key driver of future economic growth. The post Egypt promotes industrial ambitions through French, British partnerships appeared first on Egyptian Gazette.