Zarou CEO: Company to invest $1B in Egypt this year

CAIRO - 13 August 2020: Chief Executive Officer at Zarou Limited Sameh Shenouda said the company is planning to invest dlrs 1 billion in Egypt this year.

Prime Minister Moustafa Madbouli welcomed the company's plans to invest in Egypt while chairing a meeting on means boosting investments in the infrastructure domains as well as plans of Egypt's Sovereign Wealth Fund (SWF) to lure investments.
 

The meeting was attended by Planning Minister Hala Saeed, SWF Board Chairman Ayman Soliman and Chief Executive Officer at Zarou Limited Sameh Shenouda. 
 

The premier underlined that the government welcomes injecting investments at national and foreign levels, especially in the fields of electricity and energy.
 

The government has taken a number of measures to eradicate obstacles facing investors.
 

Minister of Planning Hala el Saeed said investors are interested in pumping investments in Egypt, noting that coordination is underway with Zarou company to cooperate in a number of development projects.
 

SWF Board Chairman Ayman Soliman said several cooperation protocols will be signed with the ministries concerned to invest in several projects, especially in the electricity and water desalination projects.