Advanced infrastructure, stimulating opportunities in agriculture, industry, oil, energy and communications qualify Egypt to attract domestic and foreign investment.
This statement by Minister of Finance Mohamed Maeet came during his meeting on Sunday with Indian Ambassador in Cairo Ajit Gupte.
The minister said the government provides all support to the business community and private sector companies in view of the unprecedented global economic conditions with incentives and investment benefits and keenness to simplify and automate procedures, which is reflected in the increase in production and the expansion of exports.
The government is keen to enhance co-operation and exchange expertise with the Indian side in financial inclusion and financial technology since trade and economic relations between the two countries have witnessed great development over the past years and Indian companies have become among the largest foreign investors in Egypt, the minister said.
Indian companies can benefit from the advantages granted by the Suez Canal Economic Zone and make the best use of Egypt’s strategic location as a centre for production and re-export of products to Africa and Europe, Maeet said.
The minister expressed his appreciation for India’s invitation to Egypt as a “guest of honor” at the G20 finance ministers’ meetings, pointing out that this invitation reflects the depth of the Egyptian-Indian relations, which we look forward to developing in light of the common will to raise them to the strategic level.
