Lebanon investments in Egypt exceed $5 billion – ELBA

Lebanon is one of the biggest Arab investors in Egypt, with investments exceeding $5 billion, said the Egyptian Lebanese Businessmen Association (ELBA) on Monday.

There are around 1,500 Lebanese projects in Egypt.

The sixth edition of the Egyptian-Lebanese Business Forum will take place in Beirut within the first quarter of 2020, waiting for the general situation to stabilize in the country, ELBA chairman Fathallah Fawzy. The forum will be organised in collaboration with Al-Iktissad Wal-Aamal Group, he added.

Fawzy highlighted the strong bilateral ties between Egypt and Lebanon and Cairo’s keenness to create new partnerships with Lebanese businessmen.

Egypt’s imports from Lebanon stood at $116 million dollars in 2018.

Stone products, cement, steel, cast iron, agricultural products, cosmetics, and home appliances topped the list of Egypt’s exports to Lebanon, while hair care products, wheat, scrap metal, and books accounted for Egypt’s key imports from Lebanon.