Hu Wangming, Chairman of China’s Baowu Group, a global leader in the iron and steel industry, expressed the group’s readiness to deepen cooperation with Egypt by aligning its plans with the country’s development priorities and leveraging its expertise in steel production, technology, and management to explore practical joint projects.

This came during a meeting between Minister of Industry Khaled Hashem and a delegation from Baowu Group to discuss ways to strengthen industrial and investment cooperation and increase investments in priority industrial sectors.

During the meeting, Hashem reaffirmed the Ministry of Industry’s commitment to advancing the iron and steel sector, describing it as the backbone of strategic industries, particularly automotive manufacturing and household appliances.

 He noted that steel products play a key role in supporting Egypt’s broader industrial development objectives.

The minister also highlighted that the ministry is currently focusing on several industries that rely heavily on iron and steel production, with the aim of boosting exports to international markets.

He added that Egypt offers promising opportunities in both infrastructure and manufacturing, emphasizing that the government continues to improve the business environment and provide the necessary support to investors, thereby strengthening cooperation in steel manufacturing, green industries, and industrial supply chains.