Latest news with #SumitomoElectricSystemsEurope
Egypt Independent
21-05-2025
- Business
- Egypt Independent
PM: Top priority to industry, investment incentives
Prime Minister Mostafa Madbouly on Tuesday, May 20, 2025 said that great importance is attached to the industrial sector, in line with directives of President Abdel Fattah al-Sisi. Madbouly highlighted the government's continued efforts to provide more facilitation and incentives as well as remove any obstacles that may face the industrial sector, with a view to attracting further investments in this vital sector that is considered a cornerstone for achieving comprehensive development and meeting Egypt's targeted economic goals. The premier made the remarks on the sidelines of the inauguration of a new factory of SE Wiring Systems Egypt, a subsidiary of Sumitomo Electric Systems Europe, located in the 10th of Ramadan City, Sharqia Governorate. Madbouly affirmed the government's commitment to localizing industries and transferring cutting-edge technical technologies to Egypt across various manufacturing fields, in order to boost the competitiveness of local products and open up new export markets for Egyptian goods. Following the inauguration ceremony, Madbouly toured the new factory to get first hand information about its manufacturing processes, production capacity and various activities. He was accompanied by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir, Sharqia Governor Hazem el Ashmouny and Port Said Governor Moheb Habashi. Madbouly was also accompanied by Deputy Minister of Finance for Tax Policies Sherif Elkilany, CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba and Industrial Development Authority (IDA) chief Nahed Youssef. The inauguration ceremony of the factory was attended by Japanese Ambassador to Egypt Iwai Fumio, Sumitomo Global President and Chief Executive Officer Kenichi Urushibata alongside a host of officials of Sumitomo and Toyota companies. With investments worth 22 million euros, the factory is built on an area of 150,000 square meters and is expected to create approximately 3,000 direct job opportunities. The facility is considered one of the largest in the world dedicated to the production of automotive wiring harnesses.
Egypt Today
20-05-2025
- Automotive
- Egypt Today
Egypt Accelerates Automotive Manufacturing with Inauguration of Sumitomo's Mega Factory
Prime Minister Mostafa Madbouly has officially inaugurated the new 'SI Wiring Systems Egypt' plant, a subsidiary of Sumitomo Electric Systems Europe, in 10th of Ramadan City. With an investment of €22 million, the factory spans 150,000 square meters and is poised to create approximately 3,000 direct jobs. Describing the facility as one of the largest of its kind globally, Madbouly emphasized its strategic importance in producing electrical wiring harnesses for vehicles. The factory currently exports more than €300 million worth of products annually and employs over 12,000 Egyptians across its operations. Madbouly noted that Egypt is rapidly positioning itself as a global hub for automotive component manufacturing, supplying major car manufacturers worldwide. He also highlighted that the factory was granted the Golden License in September 2023, broke ground in December, and achieved full operational status by the end of 2024—an impressive timeline made possible by streamlined procedures and strong investor collaboration. The facility includes a specialized training center to equip young Egyptians with the skills needed for this precision-driven industry. Notably, women make up over 40% of the workforce, underscoring the factory's inclusive employment approach. Praising Sumitomo's commitment and efficiency, Madbouly pointed to this project as a benchmark for future industrial partnerships, adding that similar fast-track initiatives are underway with other international firms to bolster Egypt's industrial output and exports.
Egypt Independent
20-05-2025
- Business
- Egypt Independent
PM: Presidential directives to give top priority to industry, provide further investment incentives
10TH OF RAMADAN CITY, Egypt, May 20 (MENA) – Prime Minister Mostafa Madbouly on Tuesday said that great importance is attached to the industrial sector, in line with directives of President Abdel Fattah al-Sisi. Madbouly highlighted the government's continued efforts to provide more facilitation and incentives as well as remove any obstacles that may face the industrial sector, with a view to attracting further investments in this vital sector that is considered a cornerstone for achieving comprehensive development and meeting Egypt's targeted economic goals. The premier made the remarks on the sidelines of the inauguration of a new factory of SE Wiring Systems Egypt, a subsidiary of Sumitomo Electric Systems Europe, located in the 10th of Ramadan City, Sharqia Governorate. Madbouly affirmed the government's commitment to localizing industries and transferring cutting-edge technical technologies to Egypt across various manufacturing fields, in order to boost the competitiveness of local products and open up new export markets for Egyptian goods. Following the inauguration ceremony, Madbouly toured the new factory to get first hand information about its manufacturing processes, production capacity and various activities. He was accompanied by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel al-Wazir, Sharqia Governor Hazem el Ashmouny and Port Said Governor Moheb Habashi. Madbouly was also accompanied by Deputy Minister of Finance for Tax Policies Sherif Elkilany, CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba and Industrial Development Authority (IDA) chief Nahed Youssef. The inauguration ceremony of the factory was attended by Japanese Ambassador to Egypt Iwai Fumio, Sumitomo Global President and Chief Executive Officer Kenichi Urushibata alongside a host of officials of Sumitomo and Toyota companies. With investments worth 22 million euros, the factory is built on an area of 150,000 square meters and is expected to create approximately 3,000 direct job opportunities. The facility is considered one of the largest in the world dedicated to the production of automotive wiring harnesses. (MENA)
Egypt Independent
20-05-2025
- Automotive
- Egypt Independent
PM: SE Wiring Systems Egypt giant edifice
Prime Minister Mostafa Madbouly on Tuesday, May 20, 2025 said that SE Wiring Systems Egypt, a subsidiary of Sumitomo Electric Systems Europe located in the 10th of Ramadan City, represents a massive industrial milestone. Spanning an area of 150,000 square meters, the facility is one of the largest automotive electrical wiring harness production plants in the world, Madbouly said in a press conference following the opening of the factory. The wire harness factory is the fourth Sumitomo factory in Egypt, Madbouly said, adding that it provides job opportunities for 12,000 Egyptian workers and increases annual exports to more €300 million. He highlighted that the electrical wiring harness industry is a highly specialized field, and Egypt has become a key hub for manufacturing these components, supplying automotive factories around the globe. Toyota now relies on this plant to provide wiring harnesses for its vehicles worldwide, Madbouly said. Madbouly pointed to the rapid implementation of the project, stating that it was granted the golden license in September 2023, while its construction began in December of the same year, and production started by the end of 2024. The factory employs around 2,000 workers, with the number expected to reach 3,000 by the end of the year, Madbouly said, adding that the training center of the factory is helping equip young Egyptians with the skills needed for employment. The premier added that women now make up 40 percent of the factory's workforce.
