By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt’s IDA gears up to provide its services for investors online
    Egypt’s IDA gears up to provide its services for investors online 
    March 29, 2023
    Egypt. Germany discuss promotion of cooperation in communications, digital transformation
    Egypt, Germany discuss promotion of cooperation in communications, digital transformation
    March 29, 2023
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    March 29, 2023
    Volatile trading on EGX amid anticipation of interest rate movement
    Volatile trading on EGX amid anticipation of interest rate movement
    March 29, 2023
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    March 29, 2023
  • Politics
    PoliticsShow More
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    March 29, 2023
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    March 29, 2023
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    March 29, 2023
    Al-Sisi directs development of imams to keep abreast of contemporary issues
    Al-Sisi directs development of imams to keep abreast of contemporary issues
    March 29, 2023
    Egyptian Health Minister directs accelerating completion of New Heart Institute in El-Shorouk 
    Egyptian Health Minister directs accelerating completion of New Heart Institute in El-Shorouk 
    March 29, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egypt, Switzerland sign 3 MoUs in investment, higher education, public enterprises
Share
Notification
Latest News
Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
Egypt. Germany discuss promotion of cooperation in communications, digital transformation
Egypt, Germany discuss promotion of cooperation in communications, digital transformation
Business
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Business
Volatile trading on EGX amid anticipation of interest rate movement
Volatile trading on EGX amid anticipation of interest rate movement
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egypt, Switzerland sign 3 MoUs in investment, higher education, public enterprises
Business

Egypt, Switzerland sign 3 MoUs in investment, higher education, public enterprises

Hagar Omran
Last updated: 2020/02/05 at 12:49 AM
By Hagar Omran 4 Min Read
Share
SHARE

CEO of the General Authority For Investment and Free Zones (GAFI) Mohamed Abdel Wahab, agreed with Guy Parmelin, Swiss Federal Councillor, and head of Switzerland’s Federal Department of Economic Affairs, Education and Research, to boost joint economic relations by signing three memorandums of understanding (MoUs) on Tuesday.

The MoUs aim at developing Egypt’s higher education system, as well as reforming the country’s public enterprise sector, according to a statement from GAFI.

Minister of Public Enterprise Sector Hesham Tawfik and chairperson of Suez Canal Economic Zone (SCZone) Yehia Zaki attended the signing ceremony and Egypt-Switzerland investment forum that witnessed the participation of 32 Swiss company representatives.

Swiss investments in Egypt are estimated at $1.8bn through 60 companies, Abdel Wahab said, adding that Swiss investment increased after the successful implementation of the economic reform programme.

Egypt-Switzerland investment forum is a good platform to further increase Swiss investments, seeing that it coincides with a large Swiss business delegation’s visit to Egypt. This reflects the attention that Switzerland pays to the Egyptian market, Abdel Wahab said.

He presented the available investment opportunities in Egypt, incentives and guarantees offered through the New Investment Law, noting that Swiss companies are interested in investing in Egypt’s megaprojects, transportation, food industries, and energy sectors.

Tawfik said that Egypt aims at attracting new Swiss investments in the textile sector since both countries enjoy a long history of cooperation in this sector. Zaki invited the delegation to visit the SCZone to closely identify investment opportunities.

For his part, Parmelin said that organising the Egypt- Switzerland investment forum had a special importance as it coincides with 110-year celebration of economic and trade relations between both countries.

Swiss-Egyptian trade exchange reached $1.3bn in 2019 according to Swiss statistics,  Parmelin added, noting that Egypt is Africa’s biggest market for Swiss good’s particularly with a Free-Trade Agreement through the European Free-Trade Association, a double taxation agreement, and an investment protection agreement, which stimulates economic cooperation between both countries.

Parmelin visited El Sewedy Technical Academy (STA) where a project co-financed by Switzerland and implemented by the European Bank for Reconstruction and Development (EBRD) is enhancing the employability and job market access of Egyptian young men and women, according to a statement from the Swiss embassy to Egypt.

Switzerland co-finances the EBRD’s Economic Inclusion Programme, not only in Egypt, but also in Tunisia and Morocco, the statement read.

After a short presentation about STA and the Swiss co-funded project, Parmelin and the delegation accompanying him were able to observe teacher trainings and interact with young men and women learning about logistics, electronics, and attending career guidance sessions.

Parmelin is on an economic mission in Cairo from 2 to 5 February, accompanied by a large Swiss delegation, composed of Members of Parliament, government officials, and numerous business leaders.

Parmelin’s schedule in Egypt includes meeting Prime Minister Mostafa Madbouly, Minister of Trade and Industry Nevine Gamea, and Minister of International Cooperation Rania Al-Mashat.

Parmelin began his trip to Egypt with a visit to Hero’s factory, a Swiss international consumer food manufacturer which primarily sells jams, baby and infant food, and nutritional snack foods.

You Might Also Like

Egypt’s IDA gears up to provide its services for investors online 

Egypt, Germany discuss promotion of cooperation in communications, digital transformation

Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador

Volatile trading on EGX amid anticipation of interest rate movement

Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt

TAGGED: Egypt, Investment, Switzerland
Share this Article
Facebook Twitter Email Print
Previous Article CIBF celebrates Cairo’s selection as Capital of Islamic Culture in Arab world
Next Article ODE appoints interim successors to late CEO Khaled Bichara
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
Egypt. Germany discuss promotion of cooperation in communications, digital transformation
Egypt, Germany discuss promotion of cooperation in communications, digital transformation
Business
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?