British investments in Egypt hit $5.5 billion – official

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British investments in Egypt are totalling around $5.5 billion, including 350,000 projects, said head of the Federation of Egyptian Chambers of Commerce (FEDCOC).

Speaking at the British-Egyptian business forum held Tuesday, Ahmed El-Wakil further said that Britain is Egypt’s third partner  in investments.

The federation is seeking to allure more investments to the Egyptian market in the coming period, El-Wakil added.

UK Prime Minister’s Trade Envoy Sir Jeffrey Donaldson and over 40 delegates from British companies arrived to Egypt this week “to assess new trade and investment opportunities and identify potential Egyptian partners.”

In what the British embassy describes as “one of the UK’s biggest trade delegation to date”, British companies are visiting Cairo and Alexandria to explore investment deals, many of them for the first time.

The delegation includes the Invest Northern Ireland Trade mission, whose companies cover numerous sectors including Energy, Healthcare, Food and Drink, Environment, Waste Management, Construction, and Engineering. This is in addition to companies under the auspices of the Egyptian British Chamber of Commerce (EBCC).