Egypt positioned to attract foreign investments in priority sectors: Maait

Ahram Online , Sunday 12 Mar 2023

Egypt has become qualified to attract both foreign and local investments and is providing all necessary facilities to encourage production in sectors that are of national priority, Egypt’s Minister of Finance Mohamed Maait told the Indian Ambassador Ajit Gupte in a meeting on Sunday.

File Photo: Minister of Finance Mohamed Maait. Al-Ahram

Maait highlighted that Egypt prioritises investment in agriculture, industry, petroleum and natural gas, electricity and renewable energy, and communication and information technology.

He also referred to Egypt's upgraded infrastructure and to Egypt's aims to increase production and expand exports.

“We are keen on boosting cooperation with the Indian side, as well as exchanging experiences in fields of financial inclusion and fintech”, Maait said.

Maait expressed appreciation for India's invitation of Egypt to be among the special guests at the G20 summit, highlighting the strong ties between the two countries.

He added that Cairo is keen on developing this relationship.

Additionally, Maait highlighted the extent to which Indian companies can benefit from the opportunities offered by the Suez Canal Economic Zone and Egypt's strategic location as a centre for production that allows easy re-exportation to Africa and Europe.