(3 minutes read)
- Egypt’s Minister of Public Enterprise Sector Hisham Tawfik explained to the visiting Bulgaria’s Minister of Economy Daniela Vezieva, and her accompanying delegation, prospects of joint cooperation
- Tawfik told the Egyptian side’s keenness to strengthen relations with Bulgaria at all levels
- The Bulgarian side hailed the importance that the Egyptian government attached to consolidating local manufacturing and encouraging import substitution
Egypt’s Minister of Public Enterprise Sector Hisham Tawfik explained to the visiting Bulgaria’s Minister of Economy Daniela Vezieva, and her accompanying delegation, prospects of joint cooperation. Tawfik told the Egyptian side’s keenness to strengthen relations with Bulgaria at all levels.
The minister explained his ministry’s efforts to reform and develop its affiliated companies, citing amendments to the law organizing their work, mechanizing their working mechanism by applying the ERP system, adopting central marketing and forming investment committees at the holding companies and seeking to make better use of untapped assets.
He also referred to some of the ongoing industrial projects at the ministry’s affiliates, including the comprehensive reform and development plan of the cotton, spinning and weaving companies, which is implemented at an investment cost hitting LE 21 billion.
The Bulgarian side hailed the importance that the Egyptian government attached to consolidating local manufacturing and encouraging import substitution. They also flagged the cooperation opportunities in various segments of manufacturing.
