The Investment Authority is looking to increase the investments of the international company “Archilik” in Egypt

Counselor Mehmet Abdel-Wahab, CEO of the General Authority for Investment and Free Zones, met Hakan Bulgurlu, CEO of the international company “Arçelik”, which contributes about 16% of the Turkish GDP, on the sidelines of their participation in the Climate Conference (COP-27) held in Sharm El-Sheikh, to discuss the company’s new investment expansions in Egypt during the coming period.

Abdel-Wahab explained that the Beko company, which is affiliated with the Archelik Group, has pumped $100 million this year to establish its factory in the Tenth of Ramadan City to produce household appliances for the purpose of exporting and covering the needs of the local market. The launch of the company’s first production by the last quarter of 2023.

During the meeting, the two sides discussed the possibility of expanding the company to produce other electrical appliances, such as air conditioners and televisions, to benefit from the advantages of the investment environment in Egypt.

Abdel Wahab also discussed with the CEO of “Archilik” the possibility of pumping new investments to the company in the field of engineering industries, in addition to developing technological financial applications that support electronic payment and digital transformation in Egypt, and it was agreed to visit a technical delegation from the company to discuss investment opportunities and executive procedures for projects. of interest to the company.

The meeting also touched on the company’s future plan to develop research and development services and qualify workers in cooperation with Egyptian universities, within the framework of the investment expansions to be implemented in Egypt and the transfer of modern technology from abroad.

The CEO of the General Investment Authority stressed the provision of various facilities and guarantees that the company needs to inject new investments, and coordination with all investment-related authorities to face any challenges facing the company’s work, to achieve the state’s plan to create job opportunities and promote exports.

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