- Dr. Mohamed Farid:
- We are focusing on qualitative investments to enhance productive and export capacities.
- We are working to enable Czech pension funds to access promising investment opportunities in Egypt.
- Ambassador Ivan Jukl:
- Our goal is to establish a sustainable industrial and technological partnership with Cairo.
- We look forward to a high-level visit by Czech business leaders to Egypt to open new horizons for financial cooperation.
In line with the Egyptian state’s commitment to attracting foreign direct investment and localizing advanced technology, Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, held an extensive meeting with Mr. Ivan Jukl, Ambassador of the Czech Republic to Cairo, accompanied by the Embassy’s Commercial Counselor, Mr. Ondřej Kočí, to explore ways of deepening economic cooperation between the two countries.
The discussions addressed key files related to advanced technology transfer and the strengthening of investment and financial cooperation. Dr. Mohamed Farid Saleh emphasized that the talks reflect the depth of the strategic partnership between Cairo and Prague, stressing that the current vision focuses on attracting “qualitative investments” that go beyond traditional supply models toward the localization of advanced technology.
The Minister added: “Through these partnerships, we aim to deepen local manufacturing and enhance the efficient utilization of mineral resources, particularly in Upper Egypt, Sinai, and the Eastern Desert, by leveraging advanced drone technologies applied by Czech companies in geological surveying and analysis.”
He continued: “We are currently working to provide all necessary facilitation measures to attract Czech investment and pension funds into the Egyptian market. We are also actively preparing for the Joint Economic Committee meeting in the Czech capital, Prague, to translate these understandings into large-scale productive projects that will reinforce Egypt’s position as a regional hub for industry and exports.”
Ambassador Ivan Jukl stated that the objective is not merely to supply technology, but to localize component manufacturing domestically, thereby contributing to building a strong technological base and qualified Egyptian human capital in this vital sector.
The Ambassador also reviewed successful models of Czech investments in Egypt, highlighting a major project in Sadat City with an investment cost of $100 million.
He explained that this project represents a successful model of export-oriented manufacturing, currently directing 60% of its production to foreign markets, with an ambitious plan to increase this share to 100% exports in the coming phases. He also expressed his aspiration to organize a high-level delegation visit of Czech business leaders to Egypt to strengthen economic ties and sign tangible cooperation agreements.
The discussions also covered mechanisms for attracting Czech venture capital and major pension funds, particularly the (BPI) fund, to invest in the Egyptian market.
The Minister reaffirmed the government’s readiness to provide all necessary facilitation to enable these funds to enter the domestic market.
The meeting concluded with an agreement to initiate intensive meetings of a joint technical working group to translate these understandings into concrete projects, in preparation for their presentation during the Joint Economic Committee meetings scheduled to be held in Prague, with broad participation from major institutions and companies from both countries, further reinforcing Egypt’s position as a leading regional hub for industry and exports.
