Participants at GASB: major opportunities to launch new sustainable tie-ups and partnerships are at hand in the Egyptian market
Modern Group seals cooperation protocols with Novochem and Ain Shams University to develop the marble industry
More than 400 local and foreign investors previewed opportunities for economic cooperation and joint investment in the Egyptian market in industries as diverse as manufacturing, trading, exporting, technology etc.
While attending Global Alliances for Sustainable Business GASB, they confirmed the presence of huge investment opportunities in various sectors in the Egyptian market. In order to make use of these opportunities to the hilt, well-planned schemes ought to be put in place and investment partnerships and sustainable tie-ups to be entered into, with the participation of all stakeholders including the government and investors, they concurred.
The event, taking place from 19 to 21 January, was organized by Venture (conferences & exhibitions company) with the attendance of formal delegations, together with foreign business organizations from 29 Arab and foreign countries.
Gen. Ehab Raaft, deputy governor of the Red Sea Province, said that this conference is a landmark investment event, as it is helpful in exchanging expertise, transferring technology and alluring more foreign investment to the Egyptian market.
The political leadership keeps on giving directives as regards the urgent need to bring in investments, localize technology and incentivize investors and the private sector, he affirmed.
Marketing Professor and Head at AUC’s Academic Marketing Unit Dr. Ibrahim Hegazy underscored the importance of sustainability and focusing on targeted markets to increase Egyptian exports to foreign markets, adding that these markets have to be studied to get informed about their needs so as to help them be infiltered by the Egyptian products.
Development consultant Dr. Khaled Habib underscored the importance of supporting all enterprises, whatever their volumes and activities, as well as the provision of all necessary facilities.
The companies, Habib asserted, are required to develop themselves and upscale their performance and to be qualified and prepared enough to export to foreign markets by means of obtaining the essential certificates and accreditations zeroing in on specifications and measurements in particular.
Chief Executive Officer at Orascom Industrial Parks Eng. Amr El Batrik highlighted the role played by agriculture and manufacturing sectors in economic development, as he referred to the remarkable opportunities in these two areas inside the domestic market.
With the aim of meeting the domestic market’s needs, localization of industry instead of importing goods from abroad to help secure foreign currency is gaining traction, he explained.
Chief Executive Officer at Modern Marble for Marble and Granite Mr. Ramiz Gerges said that it is important for investors to contemplate the adoption of alternative solutions and strive to enter into long-term strategic partnerships in areas as diverse as ideas, financing, science and the transfer of knowledge.
Business sustainability is key here, he maintained, highlighting the need to forge sustainable strategic partnerships when it comes to handling continuity as well as the environment-friendly products.
Gerges noted that his company jointly with local suppliers have managed recently to produce chemical materials which used to be imported beforehand, as a portion of these materials became key inputs while others were exported, leading to the generation of hard currency.
Modern Marble for Marble and Granite, Gerges added, is capable of making use of the youth and students by means of entering into cooperation agreements with universities to train them. A gadget has been invented to carry out checks on products, cut the waste and recycle the garbage.
Yousry El-Sharkawy, head of the Egyptian-African Businessmen Association, affirmed that it is necessary to work to be present in the depths of Africa, and to expand the signing of strategic partnerships with the investors of those countries.
The conference saw the signing of a bunch of cooperation protocols, including one between Modern Marble for Marble and Granite and Faculty of Engineering, Ain Shams University.
The protocol was signed by the Deputy Chairman at Modern Marble and Dr. Ahmed El Sabbagh, Deputy Dean for Environment and Community Affairs at Ain Shams University.
Additionally, a cooperation protocol has been signed between Modern Construction and Novochem to upgrade marble manufacturing, as advanced, treated and safe chemicals produced by Novochem factory are being used in compliance with the most advanced global specifications.
The protocol was signed by the Chairman of Modern Construction Co. Mr. Sameh Hamdy and Chief Executive at Novochem Mr. Hussein Ahmed Hussien.