The visit includes ElKhatib's participation in several events of the commercial mission organized by the British Egyptian Business Association (BEBA) from 18 to 20 September.

Egypt plans to attract more foreign investments into the local market to boost the country's real GDP growth and create more job opportunities.

Additionally, the country aims to attract investments in particular sectors to shift it into a regional hub, especially in renewable energy.

ElKhatib met representatives of British companies that work in various fields, including renewable energy, pharmaceutical industries, fruit packaging, and the rail signalling industry.

Increasing investment in renewable energy
 

British company Globeleq aims to increase its investment in the renewable energy field in Egypt.

This was announced during a meeting, held at the Egyptian Commercial Office in London, in the presence of Paolo de Michelis, head of Globeleq; Matteo Cappilli, business development associate of Globeleq; Oge Diala, project director at Pash Global; and Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI).

The meeting touched upon Globeleq’s interest in expanding its investments in wind power generation and the establishment of desalination plants using renewable energy.

The company expressed its interest in smart transport projects using clean energy in Egypt.

Globeleq, one of the largest investors in renewable energy in Africa, acquires the 25 MWp Winnergy solar plant in Egypt.

It started investing in Egypt in 2003, delving into the field of renewable energy in 2014.

The British company is leading the development of large-scale green hydrogen and green ammonia projects in Egypt, following the signing of a binding Framework Agreement at COP27 with the Sovereign Fund of Egypt, Egyptian Electricity Transmission Company (EETC), New and Renewable Energy Authority (NREA), and the Suez Canal Economic Zone.

Pash Global’s Diala noted during the meeting that the company will manufacture solar panels in Egypt, transforming Egypt into a regional and international centre for solar energy.

Pash Global signed with the General Authority of the Suez Canal Economic Zone (SCZone) a memorandum of understanding (MoU), valued at £2 billion.

In August, Egypt established the National Council for Green Hydrogen to stimulate green investment. In November, the council launched the National Strategy for Green Hydrogen.

Under the strategy, Egypt aims to increase the energy generated from renewable sources to 42 percent by 2035. It also targets up to 8 percent of the global trade in the green hydrogen market by 2040. 

Increasing investment in pharmaceutical sector
 

During the visit, ElKhatib met with representatives of GSK, where they reviewed its plans to increase its investments in the pharmaceutical sector by enhancing its R&D capabilities within Egypt.

The company also reaffirmed its commitment to provide the latest technologies and innovations that will support the Egyptian health sector and achieve sustainability by meeting the needs of the local market.

GSK manufactures hundreds of millions of packs in Egypt yearly, covering a wide range of products that meet local needs.

Moreover, it is currently the only multinational company listed on the Egyptian stock exchange.

Raising investment in fruit packaging
 

ElKhatib also met with representatives of Blue Skies Fresh Fruit Manufacturing and Packaging Company, including Hugh Pile, chief executive officer, and Shiv Krishan, chief financial officer.

Company officials expressed the company's desire to expand its investment in Egypt to increase its productive capacity and meet the growing demand in global markets through the establishment of new enterprises, which will promote domestic production and offer new jobs.

Blue Skies is one of the leading manufacturers and packagers of fresh fruit, cutting and exporting fruit to European and UK markets.

The company covers 40 percent of the British market in the chopped and canned fruit sector, making it a key player in this area.

Probing rail signalling industry in Egypt
 

ElKhatib also met with officials of British leader Park Signalling to design, manufacture, and supply products related to rail signals and telecommunications globally.

The company probes into the possibility of manufacturing its products in Egypt to meet domestic and regional demand.

This aligns with the government's strategy to promote local manufacturing and job creation and enhance the productive capacity of the industrial sector in Egypt.

Park Signalling officials expressed interest in exploring investment opportunities in Egypt's railway sector.

These meetings are part of the Egyptian Government's plan to attract foreign direct investment and strengthen cooperation with international companies in vital areas, improving the quality of life and developing the Egyptian economy.