Britain’s investments in Egypt totalling $5.4 billion – Minister

The total British investments in Egypt are estimated at US$5.4 billion, the Egyptian minister of industry said Tuesday.

The investments are in areas of financial services, energy, construction, tourism, pharmaceutical products, textile, communications, and information technology (IT).

The number of the British firms operating in Egypt is more than 1,350, minister Tarek Qabil said during his meeting with the UK Minister for the Middle East and North Africa Tobias Ellwood on Tuesday.

Egypt is looking forward to cementing its ties with the United Kingdom in the investment and trade domains, Qabil stated.

Furthermore, the Egyptian minister has held a roundtable discussion with officials of 15 major investment firms in Britain to brief them on the latest economic developments and investment chances in Egypt.

Minister Qabil has arrived in London Sunday on a several days’ visit, aiming to hold talks with officials of major British companies and British officials with the aim of cementing ties between the two countries in the industrial and trade domains.