Shoukry invites Serbian companies to pump more investments to Egypt

CAIRO, Nov 28 (MENA) - Foreign Minister Sameh Shoukry invited Serbian companies to pump more investments to Egypt in the various sectors, Foreign Ministry Spokesman Ahmed Hafez said.

This came at a roundtable meeting held within the context of the foreign minister's current visit to Belgrade where he conferred with a number of major Serbian companies and businessmen at the premises of the Serbian Business Club.

The spokesman noted that Shoukry reviewed tangible steps taken by the Egyptian government to develop the economic infrastructure, noting that the Egyptian market provides promising chances for foreign investors.

The Egyptian top diplomat also reviewed major national projects which are currently under way in Egypt including the Suez Canal Development Corridor, the New Administrative Capital and a number of new urban cities nationwide.

Shoukry noted that the current volume of trade exchange between Egypt and Serbia was not up to the level of aspirations of the two peoples, pressing the need for proceeding with the activities of the Egyptian-Serbian Business Council upon its formation.

He also highlighted the improvement of Egypt's economic indicators, citing the rise in the annual growth rate to 5.5 percent, the reduction in unemployment rates to less than 10 percent as well as the positive outlook by international financial foundations for the Egyptian economy.

The minister also advised the Serbian side about the current promising fields for investment in Egypt especially energy, the agricultural sector, development of road networks and construction of new cities.

In January 2002, exactly one year later after the new Serbian government has started the creation of macro economical ambience that defines a reformed, democratic state, 23 successful managers formed the Association – Serbian business club “ Privrednik”.