Egyptian Finance Minister Mohamed Maait announced Friday that Egypt is looking to increase the volume of foreign investments in the most attractive sectors such as energy, petrochemicals, medicine, communications, information technology, transportation and communications.
He added that the government is seeking to attract new segments of foreign investors, including India, to the government securities market.
Maait’s statements came following a meeting with the Indian ambassador in Cairo, Ajit Gupte, and his accompanying delegation.
The Finance Minister pointed out that the national projects that in Egypt will create promising development opportunities for local and foreign investment, providing more job opportunities and strengthening the national economy.
He stressed the government’s keenness to create a favorable environment for investment that encourages the business community to expand investment and production activities, thereby maximizing exports and enhancing competitiveness in global markets.
Maait referred to the depth of bilateral relations between Egypt and India, and the endeavor to advance them towards broader horizons to better achieve the interests of both nations.
He added that the ministry is keen to implement programs in joint cooperation with its Indian counterpart in various fields, and to discuss ways to increase investment opportunities and activate tourism movement between the two countries.
The Indian ambassador praised the success of Egyt’s economic reform program, displayed in the improvement of economic performance indicators and the flexible handling of the coronavirus pandemic.
He noted that several Indian companies are eager to pump more investments.
Edited translation from Al-Masry Al-Youm