Planning Ministry Explores Investment Prospects with Hinduja Group at World Government Summit

In the midst of the esteemed World Government Summit in Dubai, Dr. Hala El Said, Minister of Planning and Economic Development, engaged in fruitful discussions with Prakash Hinduja, Chairman of the Hinduja Group, delving into promising investment opportunities within Egypt's burgeoning economic landscape.

Underlining Egypt's steadfast commitment to fostering robust economic partnerships, Dr. El Said elucidated the pivotal role of the Sovereign Fund of Egypt as a catalyst for facilitating collaborative ventures between local and international private sectors. Emphasizing its unique legal framework, she accentuated the fund's unparalleled flexibility in spearheading investment initiatives, unencumbered by governmental constraints.

The dialogue traversed diverse avenues of collaboration between the Sovereign Fund of Egypt and the Hinduja Group, with particular focus on propelling automotive technology transfer to Egyptian shores. The proposed venture envisions the establishment of a cutting-edge production facility, geared towards manufacturing 6,000 electric and diesel cars, in collaboration with Al Nasr Automotive Manufacturing Company.

Furthermore, the discussions veered towards harnessing Egypt's strategic advantages to position it as a pivotal regional hub for bus and truck manufacturing, targeting burgeoning export markets in the Gulf and beyond. This strategic impetus promises to catalyze socio-economic development and generate significant employment opportunities across Egypt's industrial landscape.

The Hinduja Group, a venerated conglomerate with a multifaceted portfolio spanning bus manufacturing, oil, chemicals, banking, finance, healthcare services, media, and cinema, stands poised to play a transformative role in Egypt's economic trajectory. With a global footprint extending across 100 countries and assets exceeding $100 billion, the group serves as a testament to visionary entrepreneurship and steadfast innovation.

Against the backdrop of the World Government Summit, these deliberations underscore Egypt's unwavering commitment to harnessing global synergies and propelling sustainable economic growth. As Egypt embraces its pivotal role on the world stage, collaborations of this nature herald a new era of prosperity and opportunity for the nation and its people.