Egyptian Syrian Council Negates Injecting $10 bln In Egypt

Khaldoun al-Mowakaa, head of the Egyptian Syrian Business Council, has denied the allegations that 40 Syrian businessmen will inject $ 10 billion in Egyptian investments; pointing to the allegation of transferring Syrian mills to Egypt as false one.

Khaldoun al-Mowakaa, in his statements to “Amwal Al Ghad”, elaborated that the $ 10 billion is an exaggerated number and void; referring that the Syria side is seeking to inject only $ 1 billion in Egyptian investments.

The Syrian businessmen will invest with their superfluous money, and there is no intention to shut factories in Syria or transfer them to Egypt’s market; considering any talks about transferring factories destroy the economy and infrastructure of any state.

The head of the Egyptian Syrian Business Council expressed his resentment towards the statements issued by some businessmen; affirming that he doesn’t know those businessmen. He added that the Egyptian Syrian Business Council works jointly with the Egyptian side, headed by Ahmed al Wakeel, who works toward supporting commercial cooperation between the two countries.