El-Khatib discusses investment prospects in Indian TV interview

Egypt’s and Foreign Trade Hassan El-Khatib noted that Indian investments in Egypt are expected to reach $5 billion by 2025, an official statement said on Wednesday.

in a during a television interview with India’s WION channel, El-Khatib clarified that eight Indian companies are intending to invest $1 billion in renewable energy, green hydrogen, bus assembly, and industry by 2025, according to the statement. He highlighted the importance of the Suez Canal Economic Zone (SCZone) for Indian investments, especially in green hydrogen projects. He praised Indian firms for their work in the solar energy sector, citing Sterling & Wilson’s successful completion of a 250-megawatt solar project in Egypt.

El-Khatib confirmed that the ministry is focused on offering incentives and creating facilities to encourage increased Indian investments, especially in the renewable energy and manufacturing industries.

He commended India’s expertise in the information technology sector and expressed Egypt’s desire to leverage this knowledge to enhance the technology industry in Egypt, the statement added.

Moreover, he emphasised the significance of collaboration between Egypt and India in the pharmaceutical sector, recognising India’s status as a worldwide leader in the industry and the potential for extensive partnership opportunities.

He also pointed out that the ministry is taking various steps to streamline bureaucratic processes and make customs clearance easier, which in turn enhances investor trust, as stated in the release.

Expressing optimism about the future of Egypt-India economic relations, El-Khatib affirmed that the strategic partnership between the two countries will contribute to sustainable development. El-Khatib emphasised that the ministry is focused on strengthening collaboration with India as part of Egypt’s participation in the BRICS Development Bank, aiming to attract more investments.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama