The talks, held at the New Administrative Capital, also covered Blumberg Grain’s plans to establish a regional center for its Middle East and Africa operations in Egypt.
Minister El-Khatib highlighted Egypt's economic reform
program and comprehensive development since 2014, noting over 500$ billion in
infrastructure investment, including road networks, ports, and new cities. He
affirmed the government's focus on empowering the private sector and leveraging
Egypt's strategic location, connecting the Red and Mediterranean Seas, to boost
investment and trade.
El-Khatib also pointed to procedural improvements that
reduced the burden of investment and trade by 65% last year, with a target of 90%
reduction soon. He invited the company to invest in managing and operating the
infrastructure of the massive New Delta agricultural reclamation project
through a partnership model.
Blumberg Grain Chairman and CEO Philip Blumberg expressed
appreciation for Egypt's economic reforms and enhanced competitiveness.
Blumberg confirmed the company selected Egypt as its pivotal center for
operations in the Middle East and East Africa, citing the abundance of engineering
talent and competitive labor costs.
The planned regional center will include agricultural
greenhouses, storage facilities, and some value-added manufacturing operations.
The company also intends to invest in a dedicated cold-chain terminal in East
Port Said to support manufacturing and export activities.
Blumberg stated that the firm seeks to transfer its advanced
technology for storing perishable products to Egypt, which could significantly
reduce post-harvest losses by allowing crops to be stored for several months.
Attending the meeting were GAFI CEO Hossam Heiba and Blumberg Grain Executive Vice President Jeff Speeks, among others.