The Canadian Chamber is seeking to invest in the Suez Canal axis, specifically in sectors of new energy, information technology, logistics, car assembly, and petrochemicals, according to Chairman of the Canadian Chamber of Commerce in Egypt and the Middle East Fayez Ezzeldin.
Ezzeldin told Daily News Egypt the chamber intends to organise a large conference in Canada to promote investment opportunities in the new Suez Canal axis.
He said there are exerted efforts to invest in Cairo Capital’s infrastructure projects as well as investments in the mineral exploration sector since Canadian companies have great experience and are professionals in this sector.
The new mineral resources’ law and other regulations encourage Canadian companies to invest in this sector.
Ezzeldin called for the Ministry of Investment to activate the one-stop shop mechanism and to work on issuing licenses related to investments, that the disruption of these processes affect the national economy.
Ezzeldin said the chamber previously promoted the Economic Summit, which took place in Sharm El-Sheikh in March, by inviting Canadian investors to attend the conference as well as 28 participating companies.
“After the companies’ participation in the summit, a contract for a project in new energy sector was agreed upon between the Ministry of Electricity and a Canadian company with an investment of $ 5bn,” Ezzeldin said.
He explained there is interest among Canadian investors to invest into the exploration of Egyptian Mineral Resources, and that Canadian companies are professionals in that field.
The implementation of the suspension railway project linking 6th of October City and Sheikh Zayed to Cairo and Giza at a cost of $1.5bn will also start this year.