Prime Minister H.E. Dr. Mostafa Madbouly Tours Beko Egypt’s $100 Million Investment Facility in 10th of Ramadan City, Emphasizing Industry Localization Efforts*

Madbouly Explores Cutting-edge Home Appliance Technologies to Boost Industry Localization and Amplify Egyptian Exports

في يوم 18 نوفمبر، 2023 | بتوقيت 3:51 م

كتبت: نحوى طه

 – H.E. Dr. Mostafa Madbouly, Prime Minister of Egypt, undertook a visit to the Beko Egypt home appliances factory situated in the industrial city of the 10th of Ramadan area. Spanning an expansive 114,000 square meters, the factory boasts investments exceeding $100 million. During his tour, the Prime Minister examined various production lines, gaining insights into the advanced technologies employed by Beko Egypt.

Beko Egypt, aligned with the nation’s objectives to bolster industry localization and attract foreign investments, manufactures its products as a strategic move. This endeavor contributes significantly to job creation, GDP growth, and the augmentation of Egyptian exports.

Mr. Umit Gunel, General Manager of Beko Egypt, and Mr. Cemil Inan, Executive Director of Egypt’s factory Project, extended a warm welcome to the Prime Minister and his accompanying delegation, guiding them through an in-depth exploration of the factory’s facilities.

In his statement, Prime Minister H.E. Dr. Mostafa Madbouly affirmed the government’s preparedness to offer diverse forms of support and facilitation necessary for the expeditious implementation of the Beko factory. This commitment extends through relevant authorities and agencies, aiming to efficiently produce home appliances for both the domestic market and international export.

Expressing gratitude for the Prime Minister’s visit, Mr. Umit Gunel, General Manager of Beko Egypt, acknowledged the Egyptian government’s commitment to fostering a conducive environment for investors. He highlighted the importance of initiatives like the golden license, which encourages new investments meeting local market needs and promotes industry localization. Mr. Gunel emphasized the factory’s role in Beko’s broader strategy to expand investments in Egypt, with more than 60% of this output is earmarked for global export markets, aligning with Egypt’s Vision 2030 for sustainable development.

Championing a “Zero Waste” ethos, the factory aims to complete its first phase by the first quarter of 2024. The initial production will focus on environmentally friendly and energy-saving refrigerators and ovens, with an annual capacity of around 1.2 million devices. This initiative supports Egypt’s green economy transition and broader development goals.

Beko Egypt is committed to building an ecosystem for local suppliers & feeding industries, along with R&D Center to transfer technical know-how, contributing to the government’s industrial localization strategy. With plans to export more than 60% of its products to Europe, the Middle East, and Africa, the company is expecting to be providing 2,000 direct and indirect job opportunities.

With a decade-long presence in the Egyptian market, Beko aims to expand its reach to 750 showrooms and establish 83 service points nationwide. The company’s investment in innovation and development aligns seamlessly with Egypt’s pursuit of sustainability and comprehensive development.