Egypt Independent

Sahar Nasr meets with US ADM heads to pump new investments into Egypt



Minister of Investment and International Cooperation Sahar Nasr met on Saturday with Lutz Guderjahn, managing director of Europe, Middle East and Africa, for Archer Daniels Midland (ADM), a US food industry company, along with Michael Michelsen, business development manager for the company in Europe, the Middle East and Africa.

The ministry said in a press statement on Saturday that the two sides discussed injecting new investments for the company in Egypt. The company officials stressed that they are serious about investing directly into the Egyptian market and establishing a branch for their company in Egypt, following the ratification by President Abdel Fattah al-Sisi of the new investment law.

They added that Egypt is an important emerging market with many investment opportunities. They said that the branch would be an important step to the establishment of food industry factories in Egypt.

For her part, the minister affirmed her full support to investors and her keenness to attract foreign investments and expertise to the Egyptian market. She explained that the ministry is working to overcome any obstacles that American companies may face in Egypt. It welcomed various investors and projects to adopt a package of legislation to improve the business and investment environment.

Nasr pointed to the importance of economic relations between Egypt and America, and that Egypt looks forward to strengthening them during the coming period. She stressed the importance of the role of the private sector in supporting these relations through increased investments and transfer of knowledge and experiences to serve the common interests of both countries.

Edited Translation from Al-Masry Al-Youm