Bailey was speaking to journalists on the margins of a conference organized Sunday by the International Cooperation Ministry to launch the World Bank Group's Country Partnership Framework (CPF) with Egypt for FY2023-2027,

Thanks of its strategic location, the Suez Canal, green hydrogen potential, as well as wind energy and solar energy productions, Egypt has promising opportunities for British companies to pump investments, added the senior British diplomat.

As for the impacts of the devaluation of the Egyptian pound and inflation on British investments, Bailey urged the Egyptian government to move forward with its IMF-backed economic reform program by setting clear economic policies and laws that enable them to make profits without worrying about inflation and exchange rate.