INTERVIEW: Egypt’s economic reforms, commitment to private sector-led growth will attract more investors to Egypt: UK-based CDC’s coverage director

  • Date: 28-Feb-2021
  • Source: Ahram
  • Sector:Economy
  • Country:Egypt
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INTERVIEW: Egypt’s economic reforms, commitment to private sector-led growth will attract more investors to Egypt: UK-based CDC’s coverage director

Economic and trade ties between Egypt and the UK have been witnessing a new chapter since the trade deal between the two countries came into effect as of January 2021.

Ahram Online sat with Sherine Shohdy, UK-based CDC'S Country Coverage Director of Egypt, to discuss how the deal will boost British companies' investments in Egypt and how it will positively affect the companies' businesses - that back to 2003 - in the Egyptian market.

Shohdy also stressed that Egypt shows positive signs, unveiling that CDC's investment portfolio in the country exceeds $266 million, with 35 Egyptian companies collectively employing close to 29,000 people.

CDC Group is the UK's first impact investor funded by the UK government with 1200 businesses in emerging economies.

Ahram Online: How do you see the investment and doing business atmosphere in Egypt?

Sherine Shohdy: The investment and business climate in Egypt is showing positive trends. In the World Bank's Doing Business 2020 report, Egypt rose six places compared to the previous index and ranked 114 among 190 economies in terms of the level of ease in doing business. Behind this trend lies ongoing economic reform, a commitment to private sector-led growth, and the ambition to