After over a year of his tenure in Egypt as Ambassador of Thailand, Puttaporn Ewtoksan spoke to the Egyptian Mail about how he sees the investment climate in Egypt and touched on Egyptian-Thai relations in many fields.
“I have witnessed significant progress in economic development and a boom in foreign investment in Egypt,” he said. “The Egyptian government has successfully drawn international attention to invest in several initiatives particularly through public investments in infrastructure, energy, logistics, manufacturing, telecommunications, transportation, water facility and other areas,” Ewtoksan added.
“As a result, Egypt secured its position as the largest recipient of foreign direct investment (FDI) in Africa in 2020. Egypt is becoming the economic and investment hub of the region in the near future,” he said.
The Thai ambassador added that Egypt’s UNDP Human Development Report 2021 is solid evidence of the government’s efforts to elevate the economy and promote the well-being of its people.
“This success has benefited millions of Egyptians in terms of poverty eradication, education, public health, housing, and others. I am certain that Egypt will continue in its current streak of economic successes,” he added.
Trade and investments
Egypt has been Thailand’s largest trading partner in the Northern African region for many years. In 2020, due to the pandemic, the Thai-Egyptian trade exchange experienced a slight fall compared to $963.93 million in 2019, but it has remained at a satisfying US$890.90 million.
“Yet, as the Covid-19 situation has improved, the number has increased to $859.15 million during January to September 2021,” the ambassador said. “We believe at the end of the year the number will surpass the previous year’s record.”
Thailand’s exports comprised mainly canned and processed seafood, automobile and auto parts, chemical products, combustion engines, rubber products and others. While the Egyptian exports to Thailand in the same year comprised mainly pharmaceutical products, vehicle parts, electrical machinery, threads, chemical products, and others.
“I hope our trade could be further developed as Egypt can be Thailand’s gateway to the Middle East and Africa while Thailand could be Egypt’s gateway to Southeast Asia,” the ambassador said, adding that there are a moderate number of Thai investments in Egypt.
“Since 2018, a plastic producer, who is registered on the Thai Stock Market, has set up its factory in Ain Sokhna Free Zone that could generate revenue of over $600 million annually,” he said.
Furthermore, Thai companies and SMEs anticipate enhancing their business in potential areas such as agriculture, aquaculture, processed food, auto parts and renewable energy. The Royal Thai Embassy and the Office of Commercial Affairs are working closely with Thai businesses to ensure their success in Egypt.
Tourism
Ambassador Ewtoksan said it cannot be denied that Egypt is everyone’s dream destination at some point in their lives and that includes Thai people.
“I consider myself lucky for having the opportunity to actually live here and fully enjoy Egypt at my leisure,” he said.
Ambassador Ewtoksan added that after Covid-19 it will be safe to assume that many Thai people will be planning to visit the Pyramids of Giza since that is the most well-known tourist destination.
“I personally enjoyed my time travelling between Luxor and Aswan. The Nile possesses not only natural beauty, but historically significant landmarks as can be seen from the many Ancient Temples that lie along it. Some of my favourite locations are Abu Simbel, Karnak Temple and Philae Temple. The level of sophistication in their architecture compounded with the fact they were built many thousands of years ago never ceases to amaze me,” he said.
The ambassador noted that the Grand Egyptian Museum will also be one of the biggest draws for tourists in the future.
“As one of the world’s largest museums, I believe that it will not only be a great exhibition of ancient Egyptian history but also a showcase of the amazing accomplishments of the field archeology. Thai people are awaiting its opening and will certainly visit Egypt once it does,” Ambassador Ewtoksan said.
Culture
Thailand and Egypt are working towards an Executive Programme on Cultural Cooperation as well as a Memorandum of Understanding between the Egyptian Ministry of Culture and the Ministry of Culture of Thailand.
“These agreements aim towards enhancing cultural cooperation and will hopefully provide more opportunities for us to share some of the best qualities of our countries,” Ambassador Ewtoksan said.
“Before the Covid-19 pandemic, the Thai Embassy actively participated in cultural events throughout Egypt, exhibiting cultural performances such as Khon or Thai masked dances, Muay Thai or Thai boxing, and musical performances with Thai instruments.
“During these events, we would typically have performers and representatives of Thai tourism and culture visit Egypt to promote further cultural cooperation,” he said.
