Hassan El-Khatib, Egypt's Minister of Investment and Foreign Trade, met with Shihab Kuran, Founder and CEO of the US-based company Power Edison, to discuss potential collaboration in sustainable energy solutions. The meeting was also attended by Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI). During the meeting, El-Khatib emphasized Egypt's commitment to localizing energy-related industries, transferring advanced technologies, and creating new employment opportunities in the sector. He highlighted the country's strong capabilities and competitive advantages, which position Egypt to become a regional energy hub. "Egypt aims to enhance the utilization of sustainable energy resources, with a particular focus on solar energy," El-Khatib said. "We are also committed to attracting investments through investor-friendly policies, and the Ministry of Investment and Foreign Trade is fully prepared to provide all necessary facilitation and support to prospective partners." The Minister noted that Egypt has invested $550bn in recent years to upgrade infrastructure and implement comprehensive economic reforms, including amendments to fiscal, monetary, and trade policies. He added that these measures have significantly improved the country's economic indicators. El-Khatib also highlighted the Ministry's digital transformation initiatives, including the launch of a unified digital platform consolidating all investment and trade procedures. "This platform helps eliminate bureaucracy, enhances the investment climate, and boosts competitiveness in line with the state's economic objectives," he said. He further stressed that Egypt's economic strategy prioritizes a leading role for the private sector, while the state focuses on coordination and facilitation. Shihab Kuran expressed Power Edison's strong interest in entering the Egyptian market, including conducting a feasibility study for local manufacturing. The study would assess the establishment of production lines in Egypt to serve domestic demand and regional exports, and explore industrial partnerships with Egyptian manufacturers in areas such as batteries, transformers, electrical distribution equipment, trailers, power cables, and control systems. Kuran also underscored Egypt's exceptional solar energy potential, describing the country as a focal point for global companies in the sector. He highlighted Power Edison's readiness to collaborate with Egypt on regional projects, including initiatives related to the reconstruction of Gaza.
