Egypt's FM discusses investment projects with AmCham officials in Washington

Ahram Online , Tuesday 7 Aug 2018

Egypt's Foreign Minister Sameh Shoukry met the officials of the American chamber of commerce on Tuesday (Photo: Al-Ahram)

Egypt's Foreign Minister Sameh Shoukry met on Tuesday in Washington with officials from the US Chamber of Commerce to discuss future American investments in Egypt, according to a statement by the Egyptian foreign ministry.

Shoukry left on Monday morning for a two-day visit to Washington to discuss boosting cooperation with US officials.

Shoukry took part in a meeting organised by the US Chamber of Commerce in the presence of managers and officials from major American companies that are already investing or wish to invest in Egypt, including Apache, Exxon Mobil, Honeywell Metlife, Cargill, and Lockheed Martin, according to FM spokesman Ahmed Abu Zeid. 

Shoukry discussed during the meeting Egypt's economic reform programme, which aims to improve the economy and make it more attractive to foreign investors. He also discussed boosting the trade exchange between the two countries, inviting businessmen to invest in Egypt.

"Strategic partnership between Egypt and the United States requires strengthening cooperation between the two sides in various sectors of the economy, not only in the areas of energy and oil," Shoukry said.

The FM also discussed Egypt's new investment law, which creates a favourable environment for businessmen to invest in Egypt.

Shoukry said that the Egyptian government is giving priority to health and education in order to improve its manpower, which has led to a decrease in unemployment and an increase in Egypt's growth rate.

The minister also discussed the national projects currently being implemented by the Egyptian government. He highlighted the new administrative capital as well as infrastructure projects in the transport sector, pointing out that the Suez Canal axis project is one of several major endeavours that will transform Egypt into a regional and international centre for trade and industry.

Shoukry called on businessmen to establish a US economic zone in the Suez Canal axis industrial zone.

He also stressed that Egypt aims to be a regional centre for energy, following the discovery of large reserves in Egyptian territorial waters in the Mediterranean.

The representatives from the US private sector and members of the chamber praised the economic reforms achieved in Egypt through a number of national mega projects that are considered a major attraction for foreign investment.

Shoukry also discussed all aspects of Egyptian-American relations, pointing out that they are "of a strategic nature and represent the cornerstone of stability and peace in the region."

The FM also discussed the latest developments in the field of combating terrorism.

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