Egypt Independent

Morsy urges more Pakistani investment

President Mohamed Morsy called on the Pakistani government to increase its investment in Egypt during his visit to Pakistan

on Monday.

“We look forward to investments, and welcome Pakistani investors in Egypt. The amount of Pakistani investments now stands at only $ 50 million. This is a significant level of investment but we want it higher. There has already been  33% improvement in the past two years.

The President noted that the two governments “have common goals, and work to achieve technological cooperation between the two countries.”

“With my visit, I bring a number of projects and propositions in different fields, transport, communications, technology, energy and all other areas of investment.”

Morsy is on a three-day Asian tour, during which he will be visiting  Pakistan and India, starting Monday.

On Monday, Morsy held a bilateral meeting with his Pakistani counterpart Asif Ali Zardari, followed by an extended discussion session which included foreign, defense, foreign trade and industry ministers from the Egyptian side.

The two presidents then signed five memorandums of understanding in various fields.

The presidency said in a statement that the talks dealt with ways of strengthening bilateral relations between the two countries, especially in the economic, industrial, military, and technological sectors.

During his visit, the National University of Sciences and Technology in Islamabad (NUST) awarded Morsy with an honorary doctorate degree in philosophy.

A ceremony celebrating the award was held at the university on Monday. Pakistani Prime Minister Raja Pervez Ashraf handed Morsy the diploma.

The president's office issued a statement saying that Morsy delivered a speech highlighting the cultural and scientific contributions originating from the Islamic world. 

Edited translation from Al-Masry Al-Youm