Arab Finance: Hassan El-Khatib, Minister of Investment and Foreign Trade, met with the heads of Prometoen Tyre Group Egypt and CNRC China to discuss investment opportunities in the Egyptian tire manufacturing market, according to an official statement.
El-Khatib outlined the government’s strategy to create a competitive and suitable business environment in order to achieve sustainable growth.
He also stressed the importance of localizing industry to reduce costs and boost efficiency.
The minister highlighted the government's efforts to simplify the tax system, lower fees, and facilitate regulatory procedures to attract more foreign investments.
It is worth noting that Prometoen Tyre Group Egypt is currently planning to establish two new projects in Egypt.