15 December 2018 04:39 AM

Egypt keens on supporting foreign investments for local market needs- minister

Monday، 19 November 2018 - 01:23 PM

Egypt is keen on supporting all foreign investments which contribute to manufacturing high quality Egyptian products in order to meet the local market needs and export surplus, Minister of Trade and Industry Amr Nassar said on Sunday 18/11/2018.

Nassar’s remarks came during a meeting with a delegation from the Turkish glass company Pasha Bakhtasha.

The minister said that Egypt has a big and open market which makes it a promising and attractive destination to foreign investors seeking to benefit from all its potentials, specially the trade deals between Cairo and so many economic blocs.

Egypt is deemed a logistic hub and axis to all the Middle East and North Africa region, Mediterranean and African markets. The Trade Ministry is working on setting up logistic centers in some key African cities and capitals, as well as activating trade representation offices, with the aim of marketing the Egyptian products. Nassar said.

The Turkish company has 20 million dollars’ worth of investments in Egypt and plans to double these investments in the coming period, the minister said.

MENA

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