Investments of UK firms hit $43 bln in Egypt last decade: official

The investments of British firms in Egypt reached $43 billion in the last ten years, said Egypt’s Minister of investment and International Cooperation Sahar Nasr on Tuesday. 

British companies expressed their desire to raise investments in Egypt, Nasr further added, stressing that the Egyptian market remains open for British investments.

Meanwhile, the regional manager for Middle East and North Africe in Actis, Sherif Elkholy, said that his company’s investments in Egypt reached $750 million.

Elkholy also indicated that Lekela Power, a subsidiary of Actis, will pump investments worth $400 million in the project to establish a 250 megawatts wind farm in Suez gulf.

The regional manager of Carillion Constructions said that his company’s investments in Egypt amounted to $1 billion.

Similarly, officials from Vodafone and HSBS expressed the plans to expand their business in Egypt, as Vodafone Egypt’s director of legal and external affairs Ayman Essam revealed his company has allocated two billion pounds for expansions in 2017.

Source: Mubasher