Egypt's Ambassador to Saudi Arabia, Ihab Abu Sreea, and several officials from both Industry Ministries attended the meeting.
Al-Wazir emphasized the deep historical and fraternal ties
underpinning the bilateral relationship, noting that the partnership is
strengthened by the alignment of the countries' leaderships' visions.
He highlighted Egypt's goal to attract more Saudi investment
in the aluminum and chemical (PVC) industries to achieve mutual industrial
integration and benefit both nations' economies. He affirmed the Ministry of
Industry's readiness to fully support Saudi companies already operating in
Egypt or planning new investments.
In a subsequent press conference regarding the Iron and
Steel Conference, Al-Wazir stated that Egypt boasts a fully integrated iron
industry, covering all stages from ore extraction to final manufacturing. He
stressed that iron is a vital product across all industrial sectors.
Al-Wazir pointed out that Saudi Arabia is one of the largest
investors in Egypt, underscoring that the two nations' economic relations are
built on a strategic partnership and continuous cooperation. He added that this
reflects Saudi investors' confidence in the promising Egyptian market.
In conclusion, Al-Wazir affirmed the commitment of both Egypt and Saudi Arabia to ongoing coordination to advance industrial cooperation and implement complementary projects. This effort aims to enhance value chains, raise the competitiveness of industrial products, and solidify both nations' positions as key industrial hubs in the region.