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23/03/2018 01:18pm

Come and Invest in Egypt: Foreign Min Sameh Hassan Shoukry

image Come and Invest in Egypt: Foreign Min Sameh Hassan Shoukry

New Delhi, Mar 23 (KNN) Eyeing at attracting investments to the African country, Egyptian Foreign Minister Sameh Hassan Shoukry expressed his country’s desire to attract large doses of Indian investment and invited Indian business to join hands with their counterparts in industry-friendly Egypt.

Shoukry made the comments during a meeting organised by Federation of Indian Chambers of Commerce and Industry (FICCI) in the national capital.

Shoukry informed Egyptian economy has recorded a healthy recovery with its GDP growing from 3.8% in 2015-16 to 4.2% in 2016-17.

All the key macro-economic indicators point to a stable and inclusive growth, reflecting economic prosperity for the country and its people, he said.

He added that the business environment has never been as conducive as now. New Free Trade Zones have come up, there are legal guarantees for investment and the physical and social infrastructure was strong.

He urged Indian industry to take advantage of Egypt’s geographical location as a gateway to the African market and the opportunities that were merging through the deepening of Egypt-India bilateral economic cooperation.

Manufacturing, he said, offered great prospects, adding that Indian companies should seriously explore the opportunities to set up manufacturing bases in Egypt which has an enviable and strategic location that allows to access markets in Europe, Africa and in West Asia. (KNN/DA)

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