CAIRO – 26 June 2024: Minister of Planning and Economic Development, Hala El-Said, held a productive meeting with a delegation of 50 prominent British companies. The purpose of the meeting was to explore opportunities for collaboration and joint investments.
These companies specialize in diverse sectors, including technology, environmental solutions, water, infrastructure, airports, and finance.
During the meeting, Minister El-Said highlighted the impressive growth of Egypt's non-oil exports, which have surpassed $35.3 billion, marking a substantial 20 percent increase compared to the previous year.
She emphasized the significant simplification of investment procedures in Egypt, leading to a remarkable inflow of foreign direct investments amounting to $10 billion in 2024.
Egypt has set forth an ambitious structural reform plan aimed at enhancing economic flexibility and competitiveness.
The plan focuses on increasing the role and productivity of key sectors such as industry, agriculture, communications, and information technology, to raise their contribution from 25 percent to 35 percent by 2027.
Minister El-Said specifically highlighted the green hydrogen projects situated in the Suez Canal Economic Zone.
She underscored Egypt's commitment to localizing industries related to green hydrogen to ensure the long-term sustainability of such investments.
Throughout the meeting, the British delegation posed numerous inquiries regarding investment opportunities in Egypt, which Minister El-Said diligently addressed. The delegation members acknowledged the resilience of the Egyptian economy in effectively navigating the global shocks impacting nations worldwide.
Comments
Leave a Comment