Nasr, US pharmaceutical companies mull investing in Egypt

CAIRO - 2 November 2017: International Cooperation and Investment Minister Sahar Nasr had a meeting on Thursday with several representatives of US pharmaceutical companies in Egypt on pumping new investments in Egypt.

The meeting was held on the sidelines of the Competitiveness and Investment Forum, which is organized by the Business Council for International Understanding (BCIU).

The forum was attended by Thomas Goldberger, Chargé d'Affaires of the US embassy in Cairo, Jeffrey Donald, BCIU Vice President and representatives of 40 major US companies.

Nasr had talks with Executive Director, Middle East & Africa, Pharmaceutical Research and Manufacturers of America (PhRMA) Samir Khalil, Managing Director of Abbott in Egypt Mohamed Qandil, Chairman of the Board and Managing Director at Pfizer Sari Nawar, ‎Corporate Affairs and Communication Director at Pfizer Ashraf el Khouly, Managing Director of MSD Egypt Ramy Koussa and Chairman and Managing Director of Sanofi Alexis Moyrand.

During the meeting, Nasr invited US investors to do business in Egypt, citing the new Investment Law that granted a package of incentives for foreign investors.

For their part, the representatives of the US companies expressed keenness on pumping more investments in Egypt, particularly in light of the conducive investment climate in the country.

They also lauded measures taken by the Egyptian government to improve the investment environment in the country.

Following the meeting, Nasr had talks with senior director at the American company Gilead Sciences for Pharmaceutical Production Graeme Robertson.

Earlier, Nasr reviewed the plans implemented by the government to provide an investment-attractive atmosphere within the framework of the economic program of Egypt and its distinguished geographical position that links between Asia and Africa.

The government works on three axes to implement economic reforms, Nasr said.

Nasr said she is looking forward for increasing US investments in Egypt, adding that the government supports the private sector as it has a big role in boosting economic growth, easing poverty, providing job opportunities, promoting competitiveness.