Egypt eyes increasing investments with Azerbaijan, Sisi tells country’s businessmen

MENA , Ahram Online , Saturday 28 Jan 2023

President Abdel-Fattah El-Sisi said he looks forward to increasing public and private investments from Azerbaijan in Egypt, citing the business reforms introduced by the government to facilitate investment procedures.



El-Sisi made his remarks Friday during a meeting with Azerbaijani businessmen and CEOs of major companies, along with the ministers from both countries, said Presidential Spokesman Bassam Rady.

On their part, the businessmen said they are interested in fostering cooperation and joint investments with Egypt, especially in light of the provision of several promising investment opportunities in the country.

They highlighted the opportunities in the sectors of infrastructure, transport, new energy, green hydrogen and electricity, as well as the pharmaceutical industry.

They also reviewed their plans for injecting new investments or expanding their existing projects in Egypt, Rady added.

El-Sisi landed on Friday in Baku, Azerbaijan for an official visit to discuss means of developing political and economic relations.

He is scheduled to hold a meeting with President of Azerbaijan Ilham Aliyev to discuss means of cooperation between the two countries at the international and regional levels.

Egypt was among the first countries that recognised the independence of Azerbaijan in December 1991, with the two countries exchanging diplomatic representation in 1992.

Both nations have signed a series of agreements over the past year to develop bilateral ties

El-Sisi's visit to Azerbaijan comes on the heels of a three-day visit to India that wrapped up Thursday, where he attended the public celebrations of India's 74th Republic Day as chief guest of honour and met with leading Indian companies as the country seeks to attract more foreign investments.

The Indian businessmen expressed to the Egyptian president "huge interest" in investing in Egypt’s renewable energy sector, the production of green hydrogen and infrastructure development.

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