Egypt is keen to provide incentives to attract more foreign investments: Trade Minister

Egypt is keen to provide incentives to attract more foreign investments: Trade Minister

Egypt’s Minister of Trade and Industry Ahmed Samir has held a series of meetings with major international companies investing in the Egyptian market and working in the fields of communications, information technology, cars, and e-marketing.

The meetings reviewed the government’s efforts to provide an attractive climate for investment to support the industrial sector, strengthen partnership with the private sector, and discuss ways to attract more industrial investments to the Egyptian market, and increase the local component in industry.

Samir said that Egypt adopted recently several measures and initiatives that aim to support national industries, which include providing utilised lands to companies and facilitating procedures for obtaining industrial licence, in addition to providing more facilities for investors to secure production materials.

He highlighted the ministry’s keenness to attract more international companies to invest in the Egyptian market, as it is a major destination for foreign direct investments in the Middle East and Africa. Moreover, the government aims to enhance cooperation with major international companies to transfer their advanced industrial expertise to the Egyptian market and localise technological and environmentally friendly industries.

Minister Samir met with Jim Liu, CEO of Huawei Egypt, and his accompanying delegation. The meeting tackled the company’s ongoing and future projects, and