Danish investments in Egypt reach $2 billion in 3 yrs: Amb.

CAIRO - 25 July 2019: Danish Ambassador to Cairo Tomas Anker Christensen said that Egypt is a significant partner to Denmark, revealing that Danish investments in Egypt reached $2 billion in the past 3 years.

Christensen said in a meeting with journalists on Wednesday that the Copenhagen-based Maersk Company specialized in transport and energy holds $850 million of these investments.

He said that his country supports the stability of Egypt, especially in light of the instability faced by some of its neighbors, and its presidency of the African Union, pointing to the close political dialogue taking place between Egypt and Denmark.

The ambassador also referred to other aspects of the relations between the two countries, including cultural and commercial relations, as well as cooperation in the fields of renewable energy, food, water, health and climate change.

He referred to the bureaucracy the recently-enacted investment law seeks to address, pointing out that Egypt's issuance of such a law shows the awareness and desire to work to improve the situation.

Most of the obstacles faced by investors are represented in customs, taxes and owning lands, Christensen said,adding that officials in Egypt, however, always listen to investors and seek to improve the situation. He affirmed that Egypt is making very clear progress.

The availability of solar and wind power in Egypt makes it a potential renewable energy leader, he said, adding that plans and laws to pave the way for companies around the world in this regard are required.