In a significant move to bolster the Egyptian pharmaceutical sector, GIBTO Pharma, the Egyptian drug city, has entered into a strategic alliance with American firm Dua Pharmaceuticals. This partnership aims to enhance Egyptian drug exports to the U.S. market and secure approval from the U.S. Food and Drug Administration (FDA).
Mostafa Madbouly, the Chairman of the Board of Directors, emphasized that this collaboration is a strategic step toward strengthening economic relations between Egypt and the United States. He noted that President Abdel Fattah El-Sisi continues to support the state’s strategy to localize vital industries, including pharmaceuticals, while also seeking to open new export markets, particularly in the U.S.
Madbouly highlighted the importance of this partnership in attracting advanced American technologies and expertise to Egypt. He stated that it will support the Egyptian government's efforts to obtain FDA approval, thereby enhancing the position of the Egyptian pharmaceutical industry both regionally and internationally. This move confirms Egypt's readiness to compete in various global markets with world-class quality.
According to Hero Mustafa Garg, the American ambassador to Egypt, the agreement between Dua Pharmaceuticals and GIBTO Pharma includes the provision of advanced American materials and technology, along with knowledge transfer to expand Egyptian drug production across Africa and the Middle East.
Amr Mamdouh, the Chairman and Managing Director of GIBTO Pharma, expressed that the agreement is a crucial step toward realizing the company’s vision of becoming a regional center for drug manufacturing. He pointed out that the city possesses advanced production infrastructure that will support this goal.
Mamdouh also mentioned that recent months have seen tangible successes, including the establishment of strategic partnerships with seven international companies for joint manufacturing and technology transfer. Additionally, GIBTO Pharma has launched a comprehensive range of essential medicines that stand out for their quality and competitive pricing.
In a related development, Egypt’s Minister of Investment, Hassan Al-Khatib, announced plans to eliminate obstacles to export activities within weeks. He revealed that five logistics centers will be established by Al-Nasr Company for Public Works to facilitate the receipt and distribution of Egyptian products in various African countries.
During a press conference, Al-Khatib explained that Egypt is working on establishing rail plans with Libya to reach Chad, a significant market for industrial inputs. He pointed out that the protective tariffs imposed by major countries have prompted the Egyptian government to accelerate structural reforms, positioning Egypt as a leading country in investment, export, and trade.
The minister assured that the government is actively working to remove trade barriers, aiming to enhance Egypt's competitiveness in investment. He noted that the country has made progress in ranking investment competitiveness, targeting a position among the top 50 countries globally.
Additionally, Hassan Jabri, the Managing Director of Egypt Cement, revealed that the company anticipates exporting one million tons of its production this year. Jabri stated that the company plans to export 25% of its total production, amounting to four million tons, while reducing local production only affects domestic markets.
He added that the company currently exports cement to markets in West Africa and Europe, with plans to expand into East Africa next year. Jabri explained that Egypt Cement relies on a distributor network for its transactions, rather than dealing directly with real estate developers. Approximately 50% of sales are directed towards major public projects, while the remaining sales cater to individual projects.
Furthermore, Jabri disclosed that the company will invest over 250 million pounds in renewable energy projects over the next three years. This investment aims to reduce reliance on fossil fuels and lower import bills. He noted that the shift to alternative energy has already contributed to about 25% savings in energy costs, compared to 20% the previous year.
Jabri also dismissed any plans for new acquisitions, emphasizing that the Egyptian market still experiences an oversupply compared to local consumption. This situation aligns with the state’s strategy to boost exports, aiming to reach a target of 100 billion dollars in exports.
In summary, the recent collaborations and strategic agreements between Egyptian and American companies signify a robust commitment to enhancing Egypt's position in the global pharmaceutical and export markets. These developments not only promise economic growth and increased competitiveness but also reflect the ongoing efforts to modernize and expand various sectors in Egypt.
