Ahmed Samir, Egypt's Minister of Trade and Industry, convened with a delegation from BSH International, the parent company of the Bosch home appliances brand. The meeting, led by Goken Segen, BSH's Regional Director, centered on the firm's ongoing and prospective investment and growth initiatives in Egypt. The minister revealed that BSH is in the process of constructing a factory for stove appliances in 10th of Ramadan City. This facility, the first of its kind for BSH in both Africa and the Middle East, spans 160,000 square meters and represents an investment of over €50m. Samir highlighted that the new factory is poised to generate roughly 500 jobs and is slated to commence production in the final quarter of this year. With an annual production target of 350,000 units, the factory will cater to both the domestic market and international exports. He emphasized that BSH stands to gain from Egypt's numerous free trade agreements, which will facilitate access to markets across Africa, the Arab world, and Turkey. The Ministry is committed to fostering BSH's investment growth in Egypt, ensuring comprehensive support and collaboration with relevant entities to surmount any potential challenges. Samir also noted that BSH could leverage Egyptian imports related to its operations, aiming to localize production to satisfy domestic demand and bolster exports. Goken Segen underscored BSH's dedication to expanding its footprint in Egypt, citing the nation as a pivotal investment hub in the Middle East and Africa. He confirmed that the company's Egyptian project is nearing the completion of its construction phase, with production lines set to be installed soon. Segen announced BSH's intention to produce energy-efficient, high-quality products. He concluded by praising the Egyptian labor market's skilled engineers and workers, whose expertise is expected to enhance the quality of BSH's offerings.
