Mamish, Nasr discuss UAE’s Bin Omeir plans to increase investments in Egypt

Daily News Egypt
2 Min Read
The meeting was attended by Mohammed Bin Omair, and Hesham Taha

Minister of Investment and International Cooperation, Sahar Nasr, and Chairman of the Suez Canal Authroity and the Suez Canal Economic Zone, Mohab Mamish, discussed the plans of Bin Omeir Holding Company to expands its investments in Egypt across several fields, including transportation, education and health.

The meeting was attended by Mohammed Bin Omair, Chairman of the company; Ahmed Abboud, CEO of Emirates National Group, a subsidiary of the Bin Omeir Group, and Hesham Taha, CEO of Mowasalat Misr. The meeting was held in the Emirati Capital Abu Dhabi.

During the meeting, the company expressed its intention to boost its investments in the Egyptian market through Mowasalat Misr, which is a joint company between Emirates National Group and a number of local investors that aim to run 500 buses in the first phase in Egypt on six lines in Cairo by December.

Nasr said that the government is keen to increase foreign investment in the Egyptian market through serious projects that benefit the Egyptian citizens, provide job opportunities for the youth, provide better service to the citizens, support the entrepreneurial projects in Egypt. She welcomed that investments of Bin Omeir in Egypt, adding that amid the economic reforms in Egypt, the country has become attractive to foreign direct and indirect investments, especially as the Egyptian government welcomes Arab or foreign investors in Egypt and provide all facilities required for projects.

For his part, Hesham Taha, CEO of Mowasalat Misr, said that the company is keen to invest more in Egypt, where the total investments now are worth over EGP 1bn, noting that the company aims to provide distinct service for Egyptians that can push them to give up their cars and use public transport.

He noted that the company has a timetable to expand public transport in Egypt through using AC buses with free WiFi and USB outlets next to each and every seat, as well as offering electronic payments.

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