Portuguese investments in Egypt worth $405 mln- Official

The total volume of Portuguese investments in Egypt is estimated at around $405 million in ready-made clothes and communication and information technology sectors, Ahmed Antar، head of the Commercial Representation Authority said.

He pointed out that the volume of trade exchange between the two countries achieved a significant increase recording 218 million Euros in 2017 compared to 192.5 million Euros in 2016.

On the other hand, he added that the indicators of trade exchange and joint investments between the two countries do not reflect the huge potential of the Egyptian and Portuguese economies. He noted that there are huge opportunities for cooperation in the leather industry.

Antar  added that the first phase of establishing Robiki Leather City has been completed، while work is ongoing to complete the second stage، which will be established on an area of 135،000 square meters.

He pointed out that the city aims to make Egypt a hub for regional and international center for leather industry.