A statement issued by the Ministry of Investment and Foreign Trade announces a meeting between the Minister of Investment and Foreign Trade Hassan El-Khatib, and the Co-founder and CEO of Power Edison, Shihab Kuran in the presence of the President of the Authority General for Investment and Free Zones (GAFI), Hossam Heiba.

During the meeting, El-Khatib said that the The Egyptian government placed a strong emphasis on the location of industries related to energy, the transfer of modern technologies and the creation of new employment opportunities, emphasizing that capacities and Egypt's assets positioned it as a regional energy hub.

The minister added that Egypt aims to optimize the use of sustainable energy resources, in particular energy solar, and strives to attract investment through policies simplified investments in the sector.

He claimed that the Ministry of Investment and of Foreign Trade was ready to provide the company with all the support and the necessary facilities.

Also, El-Khatib noted that the Egyptian government has invested around 550 billion dollars in recent years to modernize infrastructure and has implemented a series of economic reforms and adjustments in fiscal, monetary and commercial policies, which have contributed to the improvement of the main economic indicators.

For his part, Kuran said that Power Edison was eager to enter the Egyptian market and planned to conduct a feasibility study concerning local production in order to assess the potential for setting up production lines intended to meet domestic demand and to export to regional markets.