Egypt courts more Indian investment in talks with TCI Sanmar

Egypt is seeking more Indian investment by offering tax and customs incentives and simplifying business procedures, Finance Minister Ahmed Kouchouk said during a meeting with TCI Sanmar’s managing director on the sidelines of BRICS meetings in India on Thursday.

Egypt is implementing a package of tax and customs incentives to support entrepreneurship and the private sector, while simplifying and digitising government procedures to remove obstacles facing investors, Kouchouk said, according to a statement from the Finance Ministry.

“We are keen to attract more foreign investment to support development and create more job opportunities,” Kouchouk said.

He made the comments during a meeting with Ganeshkumar Subramanian, managing director of TCI Sanmar Chemicals, as Egypt seeks to deepen economic ties with India and attract additional investment.

Kouchouk urged Indian companies to increase their investments in Egypt and take advantage of the country’s economic opportunities and resources.

The meeting comes as Egypt participates in BRICS meetings in India, where officials are discussing ways to expand economic cooperation and investment among member states.