UNIDO director hails investments climate in Egypt

Director General of the UN Industrial Development Organisation (UNIDO), Li Yong, hailed as appropriate the current business climate in Egypt, saying it encourages investors to pump more investments into the country.

Also, he lauded measures applied in the Investor Service Center (ISC) to serve investors.

Yong made the remarks following his visit to the center, at an invitation of Investment Minister Sahar Nasr.

Afterwards, the UN official headed to the Suez Canal Economic Zone (SCZone).

Yong’s visit to the center comes upon directives of President Abdel Fattah El Sisi to get representatives of international organizations acquainted with underway mega national projects to determine how much achievements the country is making in different areas, the Investment Ministry said in a statement.

For her part, Jehan el Beri, an official with the ISC, reviewed services offered by the center to help investors issue their work licenses, get necessary approvals to set up new businesses or increase their capital in existing ones.

During his inspection tour of the center, the UNIDO director listened to an explanation of Egypt’s investment map, which includes more than 1,000 available investment opportunities in ongoing mega national projects, notably the Suez Canal development corridor, the New Administrative Capital and the Grand Egyptian Museum.

on the other hand, Li said he is looking forward to boosting cooperation with Egypt, especially that it has distinguished capabilities that qualify it to make a breakthrough in the industrial sector.

He added that the international organization is ready to provide technical assistance to Cairo and to exchange expertise with it in a way that helps support the efforts made to achieve sustainable development.

Meanwhile, Egyptian Prime Minister Moustafa Madbouli voiced appreciation for Egypt’s cooperation with UNIDO, which he said contributes to confronting poverty, building capabilities and creating job opportunities.