Egypt courts India’s TCI Sanmar for new industrial investments

Egypt’s Foreign Minister Badr Abdel-Atty met on Thursday with Navdeep Singh Suri, Chairman of TCI Sanmar Group — the largest Indian investor in Egypt with investments of about $1.5 billion — to discuss expanding the company’s presence and strengthening economic cooperation, the foreign ministry said.

Abdel-Atty reaffirmed Egypt’s commitment to building a more competitive and transparent investment environment that attracts both domestic and foreign capital. He said the government is continuing to enhance its institutional and legislative frameworks, streamline administrative procedures, and remove obstacles facing investors while promoting the private sector as a key partner in development.

The minister expressed Egypt’s interest in drawing additional Indian investment into a range of industrial sectors, particularly those serving local market needs. He added that the government is addressing challenges faced by foreign companies, including easing visa procedures for executives of international firms operating in the country.

Abdel-Atty encouraged TCI Sanmar to expand its investments in light of the positive economic developments and growing opportunities in Egypt’s industrial sector.

Subediting: Y.Yasser