President El-Sisi encourages Norwegian companies to expand investments in Egypt

CAIRO - 10 December 2024: Egyptian President Abdel Fattah El-Sisi has called on Norwegian companies and investment funds to deepen their involvement in the Egyptian market, emphasizing the country’s commitment to fostering a favorable investment climate. The appeal was made during a dinner banquet in Oslo, part of the President's state visit to Norway, attended by Crown Prince Haakon, Norwegian Minister of International Development Anne Beathe, and leading executives from major Norwegian firms and investment funds.

 

In his address, President El-Sisi outlined Egypt’s ambitious reforms aimed at improving its investment landscape. He emphasized that the Egyptian government has implemented measures to provide incentives, ease bureaucratic obstacles, and support foreign direct investment. “The Egyptian government has adopted an ambitious plan to improve the investment climate and strengthen the role of the private sector in driving economic development,” he stated.

 

The President highlighted key sectors offering significant opportunities for foreign investors, including traditional and renewable energy, transport, infrastructure, industry, agriculture, and information and communications technology. He also pointed to Egypt's strategic geographic location, which positions it as a gateway to regional and global markets.

 

During the event, President El-Sisi invited Norwegian business leaders to capitalize on these opportunities and strengthen existing collaborations between Egyptian and Norwegian entities. “I invite all Norwegian companies and investment funds to augment their presence in the Egyptian market and to build on the existing successes of cooperation between several major Norwegian companies and the Egyptian side,” he said.

 

The dinner was part of a broader agenda for President El-Sisi’s visit to Norway, which included high-level discussions with King Harald V, Prime Minister Jonas Gahr Støre, the Speaker of Parliament, and members of the Committee on Foreign Affairs and Defence. These engagements underscored the two nations' shared commitment to deepening ties across political, economic, and cultural dimensions.

 

President El-Sisi expressed his appreciation for the opportunity to connect directly with Norwegian business leaders, describing the banquet as an important step in enhancing bilateral economic ties. He expressed optimism about future collaboration, emphasizing the mutual benefits of strengthening investments. “This meeting represents a valuable opportunity to better understand your vision for increasing Norwegian investments in Egypt and to take practical steps towards realizing this goal,” he concluded.

 

The President’s visit and his message to Norwegian businesses reaffirm Egypt’s focus on economic partnerships and its readiness to support foreign investments that contribute to shared growth and development.