Sahar Nasr discusses new Swiss strategy, investments

CAIRO – 7 May 2017: Investment Minister Sahar Nasr discussed with Swiss Ambassador to Egypt Markus Leitner the new Swiss cooperation strategy in Egypt from 2017 to 2020, estimated at 86 million Swiss francs ($87 million), the Ministry of Investment and International Cooperation said in a Sunday statement.

The new strategy will help the government execute its economic program and take preemptive steps to mitigate any negative effects that Egyptians might suffer from in the coming period, the statement said.

Nasr said Egypt is pressing ahead with implementing social security measures to improve Egyptians’ standard of living in light of the reform program.

The two sides also discussed increasing Swiss investments in Egypt, with Leitner saying that Egypt is a “promising market” in Africa and that there are fields where Egypt and Switzerland can cooperate, such as improving the spinning and weaving industry, developing the Suez Canal and recycling solid and electronic waste.

Nasr shed light on the importance of the Swiss strategy and its consistence with Egypt’s strategic plan for sustainable development 2030, as it focuses on a number of fields that will improve people’s standard of living and the work of governmental agencies.

The strategy will work on reducing unemployment, economic development, curbing illegal immigration and empowering women and youth, Nasr added.