Dr. Ali Meselhi, the Minister of Supply and Internal Trade, convened. with the Sudanese delegation participating in the board meeting of the Egyptian-Sudanese Company for Multifaceted Development and Investments, which was established in April 2021. With a capital of 500 million Egyptian pounds, with Egyptian contribution reaching 60%.
During his meeting with the Sudanese delegation, led by Minister of Defense Industries, Lieutenant General Mergani Idris Suliman. And the accompanying delegation. In the presence of Major General Ahmed Hassanein, Chairman of the Holding Company for Food Industries. And Major General Magdy El-Shater, Vice Chairman of the Board of Directors. To review progress made since the announcement of the establishment of the Egyptian-Sudanese company. أكد الدكتور علي المصيلحي – وزير التموين والتجارة الداخلية، The company has begun implementing its strategic plan.
The Minister of Supply and Internal Trade indicated that that this company will be one of the important economic entities linking the two sisterly nations and will provide thousands of job opportunities for youth in both countries. He also pointed out that the establishment of the commodity exchange in Egypt will also facilitate and trade goods between the two countries through the Egyptian-Sudanese Company for Multifaceted Development and Investments.
The Ministry’s spokesperson, Assistant Minister Ahmed Kamal, stated that Dr. Ali Meselhi instructed the Holding Company for Food Industries to facilitate all matters for the company and provide all its needs to enter the Egyptian market strongly in all food sectors, oil crops, as well as fresh meat. stressing that the minister is always keen to follow up on the company’s work in Egypt. and always directs to exchange of expertise between the two countries to enhance economic cooperation between the two sisterly nations.
During the meeting, the Minister of Supply and Internal Trade reiterated that The Egyptian-Sudanese Company for Multifaceted Development and Investments is a result of the strategic relations between the two sisterly countries. He noted that he listened to the participants in the meeting from both the Egyptian and Sudanese sides regarding the procedures taken to establish the company.
On his part, Major General Ahmed Hassanein, Chairman of the Holding Company for Food Industries, clarified that the Holding Company for Food Industries contributes to the established company with a capital of 25%. And so does the National Service Projects Organization. And South Valley Company by 10%. While the Sudanese Directions Company holds 40% of the company’s shares. He pointed out that cooperation with the Sudanese Directions Company dates back to 2014, with the signing of the first contract with them to supply 800,000 Sudanese cattle.
In a related context, the Sudanese delegation affirmed that cooperation with the Ministry of Supply, represented by the Holding Company for Food Industries, will contribute to increasing trade exchange between the two countries. indicating that the economic entity of this company will have economic returns between the two countries. and will open up new investment prospects as well. Given the significant technical and financial capabilities of the founders.
Attending the meeting from both sides were Major General Ahmed Hassanein, Chairman of the Holding Company for Food Industries, and Ahmed Kamal, Assistant Minister and the Ministry’s spokesperson, and Brigadier General Gaily Taj al-Din, Deputy Chairman of the Sudanese Defense Industries System, and Saadik Yaqoub, Director of the Finance and Investment Department at the Defense Industries System, and Dr. Ahmed Awadallah Ibrahim, Chairman of Multi-Directions Company, and Nasreddin Hassan, the CEO of the Egyptian-Sudanese Company, and Mohamed Hassan, Executive Office, Marketing, and Partnerships Manager at the company.