U.S. General Electric investments in Egypt hit $340mn

The investments of the U.S.-based conglomerate corporation General Electric in Egypt is currently estimated at around US$340 million, President and CEO of GE North East, Africa Ayman Khattab said Thursday.

He added that GE works on making industrial transformation by using machines and software that enhance growth that Egypt witnesses as well as its vital needs to develop infrastructure.

The newly-appointed president stated that GE trusts Egyptian investment climate and his potentials to keep growing gradually during the coming years.

Khattab clarified that GE keens to enhance its current partnerships with all governmental and private authorities to create more opportunities that could revive the economy, strengthen local innovation, and create more new job opportunities.

The official noted that GE’s current focus on the Egyptian market could participate in finding local solution in addition to investing in long-term developmental processes.

Chairman Khattab said that General Electric is committed to continue work with its partners of public and private sectors to achieve best results in all industry fields that would positively affect developmental processes.