Hariri lauds investment opportunities in Egypt

CAIRO - 24 February 2018: Egypt is a promising market, particularly in the field of communications and IT, Lebanese Prime Minister Saad al-Hariri says.

In a meeting in Beirut with visiting Investment and International Cooperation Minister Sahar Nasr, Hariri also expressed appreciation of the Egyptian role in the region.

The meeting took up ways by which to boost economic relations between the two countries, a statement by the Investment Ministry said Saturday.

They also discussed efforts to activate a partnership between Cairo and Beirut, it added.

Preparations for an upcoming Egyptian-Lebanese committee meeting also figured high at the talks, the statement noted.

Nasr also probed means to increase Lebanese investments in Egypt, it further said.

According to her, now is the time for Lebanese businessmen to pump more investments into Egypt, especially after a unified investment law has been issued.

She touched upon a "clear investment strategy" in Egypt that is based on legislative and institutional reforms, along with incentives for businesses being carried out in Upper Egypt and Sinai.

A new investor services center has recently been established with the aim to mechanize all services businessmen might need in just one place and no time, Nasr said.

A number of Lebanese businessmen told Nasr they intend to start new investments in Egypt in the coming stage, the statement said.