Egypt is stepping up efforts to attract Bulgarian investment as it pursues an ambitious strategy to become a regional hub for manufacturing, logistics, and transit trade across Africa and the Middle East. Kamel El-Wazir, Egypt's Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, called on Bulgarian firms to partner in joint industrial projects in Egypt targeting African markets. His remarks came during the Egypt-Bulgaria Business Forum held in Cairo on Thursday, attended by senior officials and business leaders from both countries. "We are encouraging Bulgarian partners to establish joint manufacturing ventures in key sectors such as engineering, pharmaceuticals, and food processing," Deputy Prime Minister El-Wazir said, adding that Egypt aims to localise technology and deepen regional value chains through cross-border industrial cooperation. He outlined sweeping infrastructure and industrial reforms launched under President Abdel Fattah El-Sisi's administration. These include an over 2 trillion Egyptian pounds investment in transport infrastructure over the last decade, new logistics corridors, digitised licensing processes, and tax and customs incentives for high-value-added industries. Egypt is also positioning itself as a trade gateway to Africa and the Arab world. Deputy Prime Minister El-Wazir highlighted Egypt's extensive free trade agreements, strategic location, and competitive labor costs as key advantages. The country's industrial exports surged 81 pe cent in 2024, with the government targeting $118 billion in exports by 2030. As part of a broader push to integrate into European supply chains, Egypt will soon sign a memorandum of understanding between Alexandria Port and Bulgaria's Port of Burgas to strengthen maritime cooperation and exchange expertise in port operations. The forum signalled growing interest in expanding Egypt-Bulgaria ties beyond diplomacy into a deeper economic partnership. Officials pointed to opportunities in renewable energy, smart manufacturing, vocational training, and food security. "This is not just about trade—it's about building strategic production partnerships that can serve wider regional markets," Deputy Prime Minister El-Wazir said. He proposed forming a joint public-private committee to implement forum outcomes and coordinate future initiatives. Attribution: Amwal Al Ghad English
