FM Shoukry urges Omani businessmen to maximise investments in Egypt at joint business council meeting

Ahram Online , Saturday 22 Jan 2022

Egypt’s Foreign Minister Sameh Shoukry urged the Omani private sector and businessmen on Saturday to enhance their presence in the Egyptian market during a meeting with the Egypt-Oman joint business council in Muscat.

Egypt s Foreign Minister Sameh Shoukry attends the third round of the Egypt-Oman joint business coun
Egypt s Foreign Minister Sameh Shoukry attends the third round of the Egypt-Oman joint business council in Muscat, 22 January 2022. Egyptian foreign ministry

Shoukry urged the Omani private sector and businessmen to maximise their direct investments in Egypt and benefit from the giant developmental and economic projects that Egypt is carrying out, the Egyptian foreign ministry said in a statement.

The Egyptian FM highlighted these projects’ role in securing diverse investment following Egypt’s economic reform and improved investment climate, the statement said.

Shoukry arrived in the Omani capital earlier today to head the Egyptian delegation participating in the 15th round of the Egyptian-Omani joint committee.

During the visit, the top Egyptian diplomat inaugurated the Arabi Specialised Hospital, a joint Egyptian-Omani investment project.

He also held a meeting with his Omani counterpart, Sayyid Badr Albusaidi, ahead of the third round of the joint business council.

The joint business council was established in 2019 to enhance economic cooperation between the two countries.

During the session, Shoukry hailed the council’s recent role in boosting joint investment and exploring the available cooperation opportunities between Egypt and Oman, the statement said.

The council seeks to enhance the economic and commercial relations between Egypt and Oman so that they reflect the two countries’ friendly relations and real capacities, Shoukry said.

The Egyptian FM voiced aspiration that the joint business council, which includes Egyptian and Omani economic figures, support the governmental efforts seeking to boost development between the two countries.

He also urged the council’s figures to develop Egyptian-Omani economic cooperation and benefit from the will of the two countries’ political leaderships to maximise economic interests and enhance the bilateral cooperation between the two countries.

Shoukry hailed the regular holding of the joint business council since its establishment, saying this reflects the firm will of the two sides to expand Egyptian-Omani cooperation.

Qais Mohammad Al-Yousef, Omani minister of commerce, industry and investment promotion, attended the session.

Egypt’s President Abdel-Fattah El-Sisi and Oman’s Sultan Haitham bin Tarik spoke via phone in July last year, where they underscored the need to enhance economic investment, and to increase trade between the two countries.

In December, Egyptian Minister of Trade and Industry Nevine Gamea met with the Omani trade minister, where she affirmed that intensive meetings would be held in the near future between the two sides' officials and businessmen to enhance trade relations.

Trade exchange between the two countries has hit $500 million, Gamea said in a meeting with members of the Egyptian-Omani business council in September.

The Omani investments in Egypt amounted to $77.5 million, injected into 92 companies operating in the fields of industry, tourism, constructions, and agriculture, she added.

The Egyptian investments in Oman stood at $680 million, injected into 142 companies specialised in the fields of infrastructure, road projects, and real estate investment, she said.

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