The Arab Organization for Industrialization (AOI) and the Portuguese Defense National Industries Company (INDEP) signed on Tuesday 30/11/2021 a memorandum of understanding.
During the signing, Head of AOI General Abdel Moniem El Terras underlined the importance of holding the second edition of Egypt International Defense Fair (IDEX 2021) with the participation of major international companies operating in the fields of defense industries and armament.
Terras also praised the high turnout by international companies to cooperate with Egypt in light of the rising confidence in its investment climate and the willingness of exchanging expertise in the field of nationalizing modern technologies and defense industries.
The MOU aims at enhancing cooperation and exchanging expertise in the field of defense industries and training human cadres.
Meanwhile, head of INDEP asserted that the Egyptian market is attractive to investments and is of high strategic importance in the Arab and African region, noting that AOI has promising industerlization potentials and would stage the scene for a new phase of good and strong chances.
Source: State Information Service Egypt