The meeting has explored the
company’s future projects in the local market, especially a $100-million
appliance factory by end-2023.
Sharm el-Sheikh- Nov 13, 2022
Minister of Trade and Industry
Ahmed Samir has met with Hakan Bulgurlu, CEO of Arçelik, a Turkish
multinational household appliances manufacturer, on the margins of COP27 in
Sharm el-Sheikh,
The meeting explored the company’s
future projects in the local market, especially a $100-million appliance
factory with an annual production capacity of 1.5 million appliances. The
project, to be established by end-2023, is expected to provide 2,000 direct job
opportunities.
“The ministry stands committed to
supporting domestic and foreign investors and eliminating all obstacles they
may face,” Samir said, highlighting Egypt’s conducive business environment which
renders it an appealing investment destination.
Bulgurlu, for his part, said Arçelik
seeks to increase its presence in the Egyptian market to become a regional hub
for the manufacture of household appliances and feeding industries, pointing
out that it is currently considering starting a second phase of investment in
air conditioners and TVs.