Seven Egyptian investors have signed memoranda of understanding (MoUs) to secure industrial land for new manufacturing facilities at Elsewedy Industrial City in Tanzania, on the sidelines of the presidential summit between Egyptian President Abdel Fattah Al-Sisi and Tanzanian President Samia Suluhu Hassan.
The agreements were signed during the Egyptian-Tanzanian Business and Investment Forum, highlighting the growing economic partnership between the two countries and Egypt’s broader strategy to deepen trade and investment ties across Africa.
The MoUs were exchanged with Ahmed Elsewedy, President and CEO of Elsewedy Electric, and Mohamed El Qammah, CEO of Elsewedy Industrial Development, in the presence of several Egyptian ministers, including Kamel Al-Wazir, Minister of Transport, Khaled Hashem, Minister of Industry, and Mohamed Farid, Minister of Investment and Foreign Trade.
The planned projects are expected to channel significant Egyptian investment into Tanzania while expanding Egypt’s industrial footprint in East Africa. The new factories will operate across strategic sectors, including pharmaceuticals, engineering industries and food manufacturing.
The agreements mark another milestone in Elsewedy Industrial Development’s strategy to replicate Egypt’s industrial development model across the African continent. The company has established itself as one of the region’s leading industrial developers by creating fully integrated industrial cities designed to attract both domestic and foreign investment.
Tags
Front Pages
Kurasa za Magazeti
Magazeti
Magazeti ya Leo
Magazetini
Magazetini leo
Newspapers
Newspapers Today
Yaliyojiri Magazetini Leo