UK PM to visit Egypt, bring more British investments

Cairo – 28 February 2017: British Prime Minister Theresa May plans to visit Egypt in May, Al-Borsa Newspaper reported, citing Ian Gray, head of the Egyptian British Chamber Of Commerce (EBCC).

Gray said that the economic reforms undertaken by the Egyptian government have increased the confidence of British investors in the Egyptian economy and its business environment. He added that the Egyptian economy is expected to improve by the end of 2017 and attract more foreign investments.

He said that the upcoming period would witness more bilateral cooperation between Egypt and Britain in terms of the trade sector, coinciding with May's anticipated visit to Egypt.

May’s visit could also help return British tourism to Sharm el-Sheikh, Gray said. Direct flights to Sharm el-Sheikh were halted after the bombing of the Russian Metrojet flight in October 2015.

He also said that chemical and petrochemical industries fall within the scope of interest of British investors.