Egypt implements ambitious plan to improve investment climate: El-Sisi at Norway Crown Prince Haakon dinner

Ahram Online , Monday 9 Dec 2024

President Abdel-Fattah El-Sisi said that Egypt has adopted an ambitious plan to improve the investment climate and strengthen the role of the private sector in driving economic development by offering incentives and facilities to foreign investors and removing any obstacles.

President Abdel-Fattah El-Sisi
(From L to R) Egyptian President Abdel-Fattah El-Sisi and his Highness, Crown Prince Haakon. Photo courtesy of Egyptian presidential spokesman Facebook page.

 

The Egyptian president made these remarks during a dinner banquet with Crown Prince Haakon of Norway and the Minister of International Development, attended by senior executives from Norwegian companies and economic and investment funds.

This event was part of El-Sisi's historic visit to Norway as the first Egyptian president to visit the Scandinavian country since diplomatic relations between the two nations were established in 1936.

According to the Egyptian presidency statement, in his meetings with Norwegian officials, El-Sisi highlighted the importance of strengthening economic and investment cooperation between the two countries.

El-Sisi underscored Cairo’s keenness to attract foreign direct investment to the Egyptian market, which presents opportunities in key sectors of shared interest, such as energy (traditional and renewable sources), transport, infrastructure, industry, agriculture, and information technology and communications.

"I invite all Norwegian companies and investment funds to increase their presence in the Egyptian market and to build on the existing successful collaborations between several major Norwegian companies and Egypt,” El-Sisi added at the dinner.

The Egyptian president also noted that his meetings with Norwegian officials during the visit provided a valuable opportunity to understand Norway’s vision for boosting Norwegian investments in Egypt and take concrete steps to achieve this goal.

El-Sisi's visit to Norway marks the second stop in his three-leg European tour, which includes Denmark and Ireland.

Earlier on Monday, El-Sisi met with King Harald V of Norway, Prime Minister Jonas Gahr Støre, Speaker of Norway’s Parliament Masud Gharahkhani, and members of the Committee on Foreign Affairs and Defense in parliament.

In his meetings with the high-ranking Norwegian officials, El-Sisi also addressed Egypt's efforts to restore stability in the Middle East.

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