FECC head urges more Tatarstan investments in Egypt

CAIRO - 15 October 2018: Chairman of the Federation of Egyptian Chambers of Commerce (FECC) Ahmed el Wakil urged Tatarstan's businessmen to pump more investments into Egypt, especially the Suez Canal zone and infrastructure projects.

During the Egypt-Tatarstan business forum, he said Tatarstan's giant company Kamaz will invest in the Russian industrial zone in the Suez Canal.

He added that Tatarstan companies have a great chance to do business in the various Egyptian industrial sectors, including the petrochemical, agricultural, engineering and automotive domains.

He added that Egypt is open for serious investors worldwide, underlining that Egypt seeks to lure investments.

He noted that Egypt launched a package of economic incentives in order to encourage investments and activate the private sector's role.

Wakil added that Egypt is considered the biggest market in Africa and the Arab world with about 100 million consumers.

He accentuated the importance of benefiting from free trade agreements signed with different countries.