Egypt to attract Vietnamese investments in SCZone

CAIRO - 23 August 2017: Three of the memoranda of understandings (MoUs) to be signed between Egypt and Vietnam will be in the Suez Canal Economic Zone (SCZone), Minister of Investment Sahar Nasr said on Wednesday.

During a visit to Vietnam along with Chairman of the Suez Canal Authority Mohab Mamesh, Nasr agreed to sign two MoUs in the fields of investment and stock market and three MoUs in the transportation sector.

Egypt will establish the Egyptian-Vietnamese Business Council and revive works of the Egyptian-Vietnamese Joint Committee, which last gathered in 2008, according to Nasr.

The pair met Vietnamese Prime Minister Nguyễn Xuân Phúc who expressed willingness to further develop bilateral trade between both countries.

During the meeting, Mamesh presented investment opportunities in the SCZone in the fields of ships, fish farming, pharmaceuticals and food industries.

In an official visit to Vietnam from August 22 to 26, Egypt will sign seven MoUs and two project programs with Vietnam.