Egyptian economy characterized by investment diversification, technological development: Lebanese Min.

CAIRO - 13 February 2023: The Egyptian economy is characterized by investment and production diversity and technological development, which enhances economic reform plans and supports foreign investment, according to the Lebanese Minister of Economy, Amin Salam.

 

Salam referred to the success achieved by Lebanese businessmen in Egypt in various economic activities, adding that the Lebanese businessman usually achieves success abroad.

 

This came during his speech before the meeting organized by the Egyptian Lebanese Association in Cairo, in the presence of Lebanese and Egyptian officials and businessmen. 

 

The Lebanese Minister of Economy and Trade revealed that his country is working to complete an agreement with the International Monetary Fund (IMF) to help overcome the economic crisis that Lebanon is experiencing. 

 

He added that Lebanon imports 95% of what it consumes, which necessitates the need to change policies and open the door for everyone to help in facing the biggest challenges in the modern history of Lebanon.

 

The Minister stressed that Lebanese people abroad have a sincere desire to support their country, calling for strengthening the role of business organizations in increasing economic and commercial cooperation, especially in Egypt.

 

For his part, Vice Chairman of the Egyptian Lebanese Businessmen Association, Fouad Hodroj, said that the association has been working for more than 30 years to strengthen relations between Egypt and Lebanon, referring to cooperation with the Lebanese embassy in Cairo and the Egyptian embassy in Lebanon to enhance the national role of the private sector in the two countries. 

 

"The crisis that Lebanon is going through has an impact on investment, but we are certain that Lebanon will return stronger than it was, despite the severity of the global crisis, which undoubtedly affected us, in our Arab and international environment,” Hodroj said.