Egypt to attract foreign investments in priority sectors – minister

Egypt is qualified to attract foreign and local investments said Minister of Finance Mohamed Maait, in a meeting with Indian Ambassador Ajit Gupte on Sunday, adding the country is now providing all facilities to encourage production in national priority sectors.

Maait highlighted that Egypt is prioritising investment in fields such as industry, petroleum, agriculture, natural gas, renewable energy, electricity, communication and information technology.

The minister also pointed out to the Egyptian goal of increasing production and expanding exports, in addition to Egypt’s upgraded infrastructure.

“We are keen on boosting cooperation with the Indian side, as well as exchanging experiences in fields of financial inclusion and fintech,” Maait said.

He also expressed Egypt’s appreciation for the Indian invitation as a special guest at the G20 summit. He also praised the strong relationship between Egypt and India, stressing on Egypt’s keenness on developing and strengthening the ties.

Maait also highlighted the extent to which companies in India can benefit from the Suez Canal Economic Zone (SCZone), in addition to the Egyptian strategic location that will help India with re-exportation to Africa and Europe.