Sisi urges Hungarian companies to invest in energy, industry in Egypt

CAIRO - 3 July 2017: President Abdel-Fatah El Sisi has called on Hungarian companies to invest in Egypt in the energy and industry sectors, stressing that Egypt is among the countries with the highest investment revenues in the world.

The President, who is on a three-day visit to Hungary, also called for studying opportunities of investment in Egypt and cooperation in the fields of agriculture, water treatment, industry, energy and railways.

“The Egyptian economy has encountered several internal challenges, increasing deficit in the balance of payments and decline in the investment and tourist numbers,” he said.

"Egypt has introduced economic reform measures to address the financial challenges, floated the pound and worked on luring more investments and expanding the investment guarantees to maximize the role of the private sector in the development,” he said.

The state is carrying out a number of mega projects, industrial zones, a new administrative capital and power plants to generate 14,000 megawatts, the president added.

-File Photo