The Egyptian government is keen to prove a favourable investment climate to attract foreign investments to the Egyptian market, according to Nevine Gamea, Minister of Trade and Industry.
Gamea also noted that the establishment of the Russian industrial zone in the Suez Canal Economic Zone (SCZone) is an initial step for attracting many Russian companies to invest in Egypt.
Gamea’s remarks came as she concluded her visit to the Russian capital, Moscow, during which she chaired the meeting of the Egyptian-Russian Joint Committee for Trade, Economic, Scientific, and Technical Cooperation. The meeting saw the participation of representatives from ministries and relevant authorities.
On the sidelines of the visit’s activities, Gamea also held intensive meetings with a number of Russian companies wishing to establish a presence in Egypt during the next phase.
She said that her ministry welcomes the strengthening of Russian investments in the local market, and overcoming all obstacles that Russian investors may face. This, in turn, will reflect positively on the increase in the rates of trade exchange and joint investments.