US optimistic of Egypt’s economy, supports country to be energy hub: US Ambassador in Cairo

US optimistic of Egypt’s economy, supports country to be energy hub: US Ambassador in Cairo

The US is optimistic about Egypt's economy and is aware of the many opportunities that can be tapped in the market by American businesspersons and companies, according to the US Ambassador to Egypt, Jonathan Cohen.

Ambassador Cohen made his statements to the monthly webinar held on Tuesday virtually by the American Chamber of Commerce in Cairo.

Building partnerships, creating platforms of collaboration, and tapping the opportunities the Egyptian market has were the key areas that Cohen touched upon.

Cohen asserted the robust partnership between the US and Egypt that has lasted for decades in the areas of military, diplomacy, and economy. 

He highlighted cooperation between the two countries in several issues, including the COVID-19 crisis, the Libyan issue, and the Grand Ethiopian Renaissance Dam, as well as continuing to support the peace process in the region.

"The United States has provided longstanding assistance to Egypt's military, economy, and cultural institutions, helping make the country more resilient through our security partnership, educational and cultural exchanges, and development work,“ said Cohen.

Moreover, Cohen revealed that the US has invested over $80 billion in Egypt over the last 43 years.

He also lauded Egypt's economic reform programme, which was implemented between 2016