By Eman Hamed
During the historic visit of the Egyptian Minister of Trade and Industry to Ankara, H.E. Eng. Ahmed Samir met with Mr. Umit Günel, General Manager of Beko Egypt. Günel discussed the company’s investments and ambitious plans to expand within the Egyptian market. Beko Egypt is preparing to open its first plant in the industrial city in the 10th of Ramadan area, covering a total area of 114,000 square meters. With investments exceeding 100 million dollars, the plant aims to produce eco-friendly home appliances such as refrigerators and ovens by the end of the year.
Engineer Ahmed Samir also met with Mr. Polat Sen, CFO of Koç Holding Group, the parent company of Arçelik, and Mr. Nihat Biyaz, CTO of Arçelik. Koç Holding was invited to visit Egypt and explore investment opportunities in various industries. The group expressed confidence in the Egyptian investment climate and showed aspirations for more business in the Egyptian markets in the long term.
Eng. Ahmed Samir expressed Egypt’s desire to strengthen cooperation with Turkey in various areas of common interest. The actions taken by both countries aim to develop sustainable relations and expand bilateral trade volume from 10 billion dollars to 15 billion dollars within five years. The use of local currencies in bilateral trade is also being explored, as it can fulfill the aspirations of both Egyptian and Turkish peoples, as stated by the Ministry of Industry and Trade.
Mr. Umit Günel, General Manager of Beko Egypt, expressed his happiness meeting with the minister. He shared his aspirations to increase trade exchange between Egypt and Turkey following this historic visit, which will benefit the economies of both countries. Günel emphasized the deep-rooted and long-standing history of Egyptian-Turkish trade and expressed that this visit will pave the way for stronger bilateral economic relations.
Günel outlined Beko Egypt’s ambitious expansion plan within the Egyptian market. The company aims to deepen industrial localization and make Egypt a center for manufacturing and exporting to foreign markets. Production is set to commence in the last quarter of 2023 with a capacity of 1.5 million devices annually. Of these, 60% will be allocated for export to Europe, the Middle East, and Africa, with an estimated annual export potential of 250 million dollars.
Beko Egypt’s plant will operate with renewable energy, promoting a “Zero Waste” approach. The initial investments will focus on producing eco-friendly refrigerators and ovens with energy-saving technology, aligning with the state’s vision for a green economy and industrial localization. This project is expected to create over 2,000 job opportunities for Egyptian youth, contributing to the prosperity of the national economy.
Having operated in Egypt for over 10 years, Beko Egypt is considering expanding its production line. The company plans to open 250 new showrooms and 50 service centers in Egypt, enhancing customer experience with world-class quality. This expansion will create new job opportunities and add value to the Egyptian economy. It is made possible by the rapid growth of the Egyptian economy, local market