Today, Lt. Gen. Abdel Moneim Altras, Chairman of the Arab Organization for Industrialization, received Mr. Andras Kovacs, Ambassador of the Republic of Hungary, on his first visit to the Authority since his appointment as his country's ambassador to Cairo.

During the meeting, the Arab Industrialization vision was presented on deepening local manufacturing, transferring and localizing technology in many different areas of industry, including training of human cadres, especially since there is a distinguished and historic cooperation between the Arab Organization for Industrialization and major Hungarian companies in many areas of industry.

They also discussed strengthening cooperation mechanisms in the field of communications, digital transformation processes, artificial intelligence, and environmentally friendly cars using natural gas.

In this regard, the "Terrace" stressed the importance of implementing President Abdel Fattah El-Sisi's directives to localize technology in cooperation with international expertise, pointing to the importance of investing in the depth and strength of relations between "Cairo and Budapest" through the Egyptian-Hungarian Committee and how to benefit from them to open new horizons for joint cooperation in the fields of Different manufacturing.

He added that the Arab Organization for Industrialization is looking forward to strengthening joint cooperation with major Hungarian companies, to deepen local industrialization and increase the added value in the local industry, pointing out to discuss increasing competitive opportunities for marketing joint production in the Egyptian, Arab and African markets.

For his part, the Ambassador of Hungary affirmed that the recent successes achieved by Egypt in all fields have attracted the attention of giant international companies, including Hungarian, to enhance joint cooperation in light of the improvement in the investment climate and the security and economic stability that Egypt currently enjoys, praising the administrative capital and the size of the national achievements and projects witnessed by the president "Abdel Fattah Sisi".

During his inspection of the exhibition of Arab Organization for Industrialization products, "Andras Kovacs" praised the manufacturing and technical capabilities of the organization and the richness and diversity of its defense and civil products, which encourages many Hungarian companies to conclude more partnerships with Arab Industrialization to deepen industrialization in areas of common interest.