HSBC and Egypt’s Nasr sign MoU to attract foreign investments

Egypt’s Minister of International Cooperation and Investment has signed a memorandum of understanding with HSBC Egypt to support Cairo’s scheme to attract more foreign direct investments to the country.

Sahar Nasr said that the bank will contribute to the orientation and connection of international investors to the booming investment opportunities in the Egyptian market.

Jacques-Emmanuel Blanchet, CEO of HSBC Egypt, said that the government’s “strong efforts to push forward economic reforms, boost international trade and improve the business atmosphere are worthy for the bank to cooperate with the Ministry of Investment to support its development strategy in line with the Egyptian government economic reforms plan.”

“The recent IMF report on Egypt’s GDP growth, which is expected to reach 4.5 percent in the fiscal year 2017/2018, is an indication that the efforts of the Egyptian government are on the right track,” he added.

Blanchet said that HSBC’s global network and presence in 67 countries gives the bank exceptional capabilities to connect international companies looking to invest in Egypt.

Source: Ahram online