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UK Expands Its Investments In Egypt

On 20 February 2017, the Minister of Investment and International Cooperation Dr. Sahar Nasr met with the UK Ambassador to Cairo John Casson, at GAFI’s premises.
At the beginning of the meeting, the Minister welcomed Ambassador Casson, emphasizing her keenness on enhancing economic, developmental and investment relations between both countries.
Ambassador Casson congratulated the Minister for holding the office of the Ministry of Investment and International Cooperation, asserting his country’s interest in increasing its investments in Egypt during the upcoming period.

This year, added Ambassador Casson, would reflect UK’s commitment to strengthen cooperation and support economic growth efforts in Egypt through increasing the British investments, amounting to USD 30 billion during the period from 2011 to date. In addition, three missions featuring businessmen and British companies visited Egypt recently seeking to invest in a number of sectors in Egypt.

The Minister highlighted the Egyptian government’s welcoming of British investors in Egypt, reiterating the open policy adopted by the government to encourage investments and efforts exerted to foster an adequate climate for investment and to overcome all obstacles facing investors. She also referred to Egypt’s great investment potentials and promising opportunities in various sectors.

Further, the Minister ascertained the Egyptian government’s keenness on supporting Micro, Small and Medium Enterprises (MSMEs) nationwide to provide job opportunities to youth and female breadwinners.

For his part, Ambassador Casson referred to the British government’s support of Egypt through the British partnership program, through which several projects targeting economic and social development would be financed.
Both sides discussed cooperation in supporting labor-intensive projects and education through funds provided by the MENA Transition Fund- one of the financing mechanisms emanating from Deauville Partnership, given that Britain is considered one of its largest shareholders.

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