Dimitris Tsitsiragos, Vice President of International Finance Corporation (IFC) for Europe, Central Asia and the Middle East and North Africa, said the corporation is targeting the establishment of several joint infrastructure projects with the Egyptian government and the private sector.
Renewable energy production projects, according to Tsitsiragos, are a priority for the corporation looking forward. Electricity-generation stations are being established in one of the Upper Egypt governorates.
Trade and Industry Ministry Mounir Fakhry Abdel Nour said his meeting with Tsitsiragos covered the possibility of carrying out joint projects between the corporation, the government and the public sector. He said that the meeting especially discussed alternative energy projects for the industrial sector as well as others to develop logistical services supporting Egyptian exports to foreign markets. Abdel Nour emphasized the government’s interest in supporting all projects that target saving energy sources for industrial projects.
"The corporation officials were reassured that the situation in Egypt is stabilizing and that the economic situation is getting better," Abdel Nour said. He added that the government is committed to providing all guarantees required by Egyptian and foreign investors.
Foreign investments in Egypt have not been disturbed by the recent situation. Many have achieved increases in profits, making Egypt's market a main destination for foreign investments.
