The Indian company, renowned for exporting motorcycles to over 70 countries worldwide, aims to establish a vehicle factory in East Port Said within the SCZONE. This strategic location would provide Bajaj easy access to African markets and facilitate exports to other regions, according to the press release.
This announcement came as part of a promotional tour of India conducted by a delegation from the SCZONE, which included meetings with representatives of major Indian industrial companies.
The primary objective of the promotional tour is to attract Indian companies from various sectors to explore investment opportunities in the SCZONE, according to a statement issued by SCZONE authorities on Saturday.
During their visit to Mumbai, the delegation met with members of the Federation of Indian Industry (FII), led by K. Nandakumar. According to the statement, Nandakumar emphasized Egypt's significance as a substantial investment market, and as a gateway to the global marketplace.
Indian companies already operate in key sectors of the Egyptian economy, such as textiles and garments, power generation, chemicals, consumer goods, healthcare, and more. Approximately 50 Indian companies are engaged in manufacturing and construction, collectively investing over $3.15 billion in 2022, as reported on the website of the Indian embassy in Cairo.