CEMEX Egypt invests $20m in 2017

CAIRO – 6 June 2017: Mexican cement giant CEMEX Egypt is planning to pump $20 million in investments in 2017, President of CEMEX Egypt Ramon Rodrigo Piza said Tuesday.

Piza made the statements during a meeting with Minister of Investment Sahar Nasr and Ambassador of Mexico Jose Octavio Trip, who expressed interest of his company to boost investments in Egypt, according to a Tuesday statement from the Ministry.

CEMEX Egypt is the biggest Mexican investor in Egypt, and is currently investing $1.2 billion, Piza said.

“The new investment law would facilitate hurdles facing Mexican investors and offer them guarantees and incentives,” Nasr said in the meeting.

Mexicans invest in Egypt in the fields of cement, oil, construction, technology and cement, amounting to $950 million, while Egyptians invest $200 million in Mexico in the petroleum and electrometers sectors, according to the Egyptian Commercial Service Office.

Bilateral trade between Egypt and Mexico was the lowest in 2015, standing at $82 million.