Egypt to boost investment cooperation with Gulf countries

CAIRO – 29 April 2017: Egypt is an open market for Arab investors from all over the Gulf; and the Arab countries are keen to pump new investments in Egypt, Egypt’s Minister of Investment and International Cooperation Sahar Nasr said Saturday in a meeting with a delegation of the newly established “Gulf Countries for the Love of Egypt” coalition.

The two sides discussed increasing Gulf investments in Egypt in the coming period, according to a statement by the Ministry of Investment and International Cooperation.

“The Ministry is currently working on several legislations to improve the business and investment environments in Egypt,” Nasr stated. She emphasized the importance of strengthening the institutions that deal with investors and linking them to technology to facilitate the procedures, as well as eliminate bureaucracy.

Yousef al-Amiri, Chairman of “Gulf Countries for the Love of Egypt,” expressed the coalition’s desire to set up new projects in Egypt in the future.

The coalition “seeks to provide an economic, cultural, media, technical and social environment that serves all areas of cooperation between Egypt and the Arab Gulf,” Amiri stated. He also stressed that it is time to exploit the Arab wealth in building up the Arab countries, especially Egypt.

“Gulf Countries for the Love of Egypt” was established on April 15, to enhance the relations between Egypt and countries of the Gulf Cooperation Council. The council’s members, from Egypt and the Gulf countries, gather a number of businessmen and figures from the fields of tourism and culture.