Indonesia's investments in Egypt hit $111.6M: gov't

CAIRO – 2 September 2020: Indonesia ranked 55th in the list of countries investing in the Egyptian market with projects whose investments amounted to $111.6 million, according to Minister of Trade and Industry Nevine Gamea.

Gamea said Wednesday that that Indonesia's investments are concentrated in 22 projects in the fields of industry, construction, services, communications and information technology.

This came during Gamea’s meeting with Helmy Fawzy, Indonesia's ambassador in Cairo, and his accompanying delegation, to review the meeting ways to enhance joint economic cooperation.

The minister pointed out the importance of activating the joint Egyptian-Indonesian Business Council's role in pushing forward the efforts of trade, industrial and investment cooperation and joint production of a number of basic industries in the Egyptian and Indonesian economies.

She explained that there is a great opportunity for Egyptian exports to enter the Indonesian market, especially chemical products, fertilizers, iron and steel, tires and agricultural commodities.