British companies visit Egypt to study investment prospects

Daily News Egypt
2 Min Read

By Menna Zaki

Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour announced on Tuesday that a number of British companies will visit Egypt to learn more about available future investment prospects.

During his meeting with members of the Egyptian British Business Council, Abdel Nour said the Egyptian government is keen to pump up the role that the business council is playing in expanding trade and economic relations with various external partners. It is important to maximise the benefit of the cooperation between the various entities responsible for economic relations between Egypt and the United Kingdom, he said.

The meetings, conducted with British ministers, government officials and businessmen, aimed to attract British investment in Egyptian projects.

Abdel Nour  highlighted available investment opportunities, such as the Suez Canal Development Project, which aims to develop the seaports bordering the canal, and the “golden triangle” project, a development project in Upper Egypt that will connect the industrial centres of Qena, Safaga and Al-Qaseer.

Hesham Mekawi, head of the Egyptian side of the Egyptian British Business Council, said the council has formed four committees to study the two countries’ cooperation in the industries of information technology, communication, logistics, textiles and food industry. A fifth committee will research ways to improve investment prospects in Egypt.

The business council will meet again between March and October.

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