Elsewedy Electric, Egypt seeks to boost investments in GCC countries: CEO

At the local level, the group is targeting to raise its exports abroad to over 50% of total production

Staff Writer, Arab Finance

November 24, 2023

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Elsewedy Electric is targeting to boost its investments in the Gulf Cooperation Council (GCC) countries, the group’s CEO Ahmed Elsewedy told Asharq Business in an interview.

The group is planning to expand its cable factory and other industries in Saudi Arabia, in addition to injecting new investments into the Emirati, Omani, and Qatari markets, Elsewedy said.

He noted that the increasing demand in Saudi Arabia led the group to consider raising its investments there, adding that the group sought to bolster cooperation with the kingdom in the field of technical education.

At the local level, the group is targeting to raise its exports abroad to over 50% of total production, the CEO pointed out.

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