Dutch investments in Egypt reach $3bn: Netherlands ambassador

The Dutch investments in Egypt are estimated at US$3 billion, the Ambassador of Netherlands in Cairo Gerard Steeghs announced Tuesday during his meeting with the Egyptian-European Business Council.

The ambassador stated that Dutch investors keen to expand in the Egyptian market and double their investments notably in Suez Canal Development and 1.5 Million Feddans Reclamation projects.

He added that the investors also keen in investing in agriculture, energy, transport, and logistics fields since Egypt loses massive amounts of its agricultural crops due to bad transport and storage.

Steeghs clarified that there are a number of obstacles that face Dutch investment plans to be executed in Egypt notably the lack of dollar liquidity that investors need in addition to the decisions made by the Egyptian government lately that imposed new customs tariffs on some commodities.

The ambassador urged the Egyptian government to reconsider those decisions to encourage investors to enter the Egyptian markets effectively.

Ambassador Steeghs asserted that the European Union is supporting Egypt to get its growth rates back within the upcoming period.