Investment minister, Indian ambassador discuss investment

CAIRO – 21 June 2017: Potential Indian investments in Egypt were discussed in a meeting held Wednesday between Minister of Investment Sahar Nasr and Indian Ambassador to Egypt Sanjay Bhattacharyya at the ministry’s headquarters, according to a statement from the ministry.

Nasr explained that Indian investors have a variety of opportunities, including national mega projects in the Suez Canal Development Axis and in the New Administrative Capital.

The minister discussed with the ambassador the chances of sharing India’s experience in developing the skills of state employees, especially in the domain of investment, to modernize and facilitate services delivered to investors.

The ambassador presented the updates of the Technological Excellence Center project at Al-Azhar University. The project’s execution is expected to start in August, where modern Indian equipment will be utilized.

Nasr said the new investment law includes many incentives and that the state is focusing on attracting investors to the most deprived areas.

The minister clarified that the ministry is working with other ministries to put together an integrated map of all investment opportunities around the country.

The meeting also included talks over scholarships and training sessions offered by the Indian government within the Indian Technical and Economic Cooperation Program (ITEC). The ITEC is a program founded September 15, 1964 and monitored by the Indian Ministry of External Affairs aiming to achieve bilateral assistance between Egypt and India.

Egypt sent 160 employees working in state administrative bodies to India to participate in short-term training programs in the domains of public administration, public policy and information technology.