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Egypt’s Minister of Industry, Khaled Hashem, recently convened with the Ivorian Ambassador to Cairo, Dole Gueu Albert, to deliberate on expanding industrial cooperation and identifying synergistic investment opportunities. The high-level discussions centered on key sectors including palm oil production, tire manufacturing, and various agro-industrial activities, according to an official statement from the Ministry of Industry.
The dialogue focused on sectors prioritized within the national development frameworks of both nations. Minister Hashem indicated that the ministry and the Ivorian Embassy are set to commence a thorough review of areas where their respective industrial strategies overlap. This initiative aims to pinpoint high-potential projects for near-term implementation, leveraging each country's inherent competitive advantages to build industries that serve both domestic and regional markets.
Hashem underscored that industrial integration with African partners is a fundamental pillar of Egypt’s Industrial Strategy 2030. Highlighting the robust bilateral ties, he reaffirmed the ministry’s dedication to collaborating with Côte d’Ivoire to convert their collective resources and technical capabilities into mutual economic growth.
The meeting also addressed significant hurdles currently impacting joint ventures, such as the absence of Egyptian banking institutions in Côte d’Ivoire and the lack of a formal maritime trade agreement. Hashem emphasized that prioritizing concrete industrial projects would be essential to overcoming these financial and logistical bottlenecks and accelerating the pace of economic cooperation.
Ambassador Albert outlined the strategic opportunities awaiting Egyptian investors, noting that Côte d’Ivoire’s current five-year economic plan, which runs through 2030, specifically earmarks industrial sectors for private-sector-led growth. He identified palm oil production and agro-processing as prime areas for direct investment by Egyptian firms.
Furthermore, the Ambassador noted the Ivorian government's eagerness to attract Egyptian manufacturing expertise, reflecting the shared vision of both nations' political leaderships. He reiterated Côte d’Ivoire’s commitment to fully implementing the agreements signed during President Abdel Fattah El-Sisi’s landmark visit to the country in 2019.
Source: Arab Finance