Investment and Foreign Trade Minister Hassan El Khatib met with Shihab Kuran, Founder and Chief Executive Officer (CEO) of US-based Power Edison, a leading renewable energy and energy storage developer, to explore cooperation in sustainable energy solutions, according to a press release by the ministry.

The meeting, attended by Hossam Heiba, Chairman of the General Authority for Investment and Free Zones (GAFI), saw El Khatib stressing Egypt’s state’s focus on localizing energy-related industries and modern technology transfer, pointing to the country’s competitive advantages that qualify it to be a regional energy hub.

Furthermore, he highlighted that Egypt has invested $550 billion in infrastructure over recent years. Coupled with economic reforms and adjustments to fiscal, monetary, and trade policies, these efforts have significantly improved economic indicators.

Furthermore, El Khatib pointed to the ministry’s obvious interest in digital transformation, including the launch of a unified investment and trade digital platform to eliminate bureaucracy and enhance competitiveness. He added that the state is adopting a growth model led by the private sector, with the government acting as a coordinator and enabler.

For his part, Kuran expressed Power Edison’s strong interest in the Egyptian market. He announced plans for a feasibility study on local manufacturing to evaluate establishing production lines in Egypt for both domestic use and regional export.

The company aims to build industrial partnerships with Egyptian manufacturers in fields including batteries, transformers, electrical distribution equipment, trailers, power cables, and control systems, Kuran noted.