IDA head probes with Indian businessmen investment opportunities in Egypt

CAIRO - 28 June 2018: The Head of the Industrial Development Authority (IDA) Ahmed Abdel Razek probed with a number of Indian businessmen investment opportunities besides discussing the problems of the Indian investors who have projects in Egypt.

The meeting was attended by Chargé d'affaires at the Indian Embassy here Vinod Bahade.

In a statement issued by the IDA on Wednesday, Abdel Razek underlined that this forum comes to enhance the deep and historic ties binding the two countries at the political and economic levels, adding that the authority offered a group of incentives to lure foreign investments.

A commercial sector at the IDA was newly established to promote relations with investors and get acquainted with the obstacles hindering them, the statement read.

The official reviewed a number of economic indicators in Egypt topped by rise of value of foreign direct investment during 2016/2017 to $7.9 billion with a 14 percent increase compared to the previous year.