Egypt’s Minister of Investment and International Cooperation Sahar Nasr said Egypt was eager to strike partnership deals with Hungary.
Nasr called on Hungarian companies to expand their investments in Egypt, particularly in agriculture, logistics, automotives, communication and information technology, entrepreneurship, and many other sectors, tapping all incentives that Egypt’s investment law introduces.
She said, during the Egypt-Hungary Investment Forum held on Thursday, that the two countries intended to focus on the industry and transportation sectors in the coming investments.
Egypt’s Minister of Trade and Industry Amr Nassar said at the forum there were significant opportunities that enhanced economic cooperation between the two countries.
He added it was vital to encourage business circles on both sides to benefit from the investment and commercial opportunities available and to penetrate regional markets, particularly because Egypt was hub for MENA and North Africa markets while Hungary was the gate to the European markets.
Nassar highlighted the pivotal role the private sectors of both countries played to in achieve economic development and provide job opportunities.
Egypt’s Minister of Public Business Sector Hisham Tawfik stated at the forum that his ministry was looking forward towards more trade and investment cooperation with Hungary in the pharmaceutical, automotive, engineering, and paper industries.
Head of the Arab Organisation for Industrialisation Abdel-Moneim El-Terras said there was an agreement with the Hungarian side to kick off projects on modern lighting systems to use smart lightning in cities, buildings, and transports.
The Hungarian parliamentary affairs state minister at the Hungarian ministry of trade and foreign affairs said the forum reflected the strong ties between the two countries and that the Hungarian companies were keen on increasing their investments in the Egyptian market.