Ambassador Kairat Lama Sharif held a meeting with the head of the «Egyptian International Pharmaceutical Industries Company»

The Ambassador of Kazakhstan to Egypt visited one of the largest factories of the EIPICO company, located in the city of "10th Ramadan" in Ash-Sharqiyah province.

Reference: The city of "10th Ramadan" is a modern industrial city in Egypt, in which special economic conditions for the development of innovative clusters, including electronics, food processing, clothing, textiles, building materials, metallurgy, pharmaceuticals and furniture have been created. Today, the number of manufacturing plants has reached 3 thousand with a total capital of 84 billion Egyptian pounds (5.4 billion US dollars) and an annual production of 162 billion pounds (10.4 billion US dollars) that provides more than 500 thousand jobs.

Ambassador Kairat Lama Sharif held a meeting with the Chairman of the Board of Directors and CEO of EIPICO, Chairman of the Kazakhstan-Egyptian Business Council Ahmed Kelani. During the conversation, the sides discussed the prospects for interaction of the EIPICO company with Kazakhstan, as well as the implementation of an investment project for the construction of a Kazakh-Egyptian pharmaceutical park in Almaty in the amount of 35 million US dollars. The company's management noted that the project documentation has been fully worked out, the site of the object has been determined. Construction was supposed to start in 2016, but was suspended due to the Egyptian currency devaluation and  subsequent economic crisis.

The Kazakh diplomat drew the interlocutor's attention to the need to intensify work on this investment project, which is in the list of priority projects of Egyptian Investment Agency, as well as in the Country Investment Program of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan for 2021-2022.

He also highlighted that Kazakhstan has provided conditions for doing a successful business and systemic reforms are being implemented to improve the business climate, reduce barriers and increase the country's investment attractiveness. Parties agreed that the head of the "EIPICO" company Ahmed Kelani will visit Kazakhstan in the second half of December this year.

Reference: «EIPICO (Egyptian International Pharmaceutical Industries Company) is the largest pharmaceutical company in Egypt, one of the leaders in the Middle East and North Africa. It was founded in 1980. The activity covers all areas of pharmaceutical production from research and development to the production of active substances and finished products for sale. Produces over 400 names of pharmaceuticals, of which 65 are licensed. The EIPICO production structure includes two main enterprises with 9 sterile zones, which produce active medicinal substances, medicinal products in the form of tablets, dragee and capsules. It has own research center for biotechnology and genetic engineering.

The company is the leader in the export of pharmaceutical products (21% of export of the total pharmaceutical products in Egypt). Currently exporting to 65 countries of the world, including Africa, Asia, Europe, Latin America.

At the end of the meeting, Ambassador Kairat Lama Sharif expressed confidence that this investment project will contribute to strengthening the Kazakh-Egyptian economic ties and will become the beginning of new mutually beneficial projects.