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Sisi Brands Egypt as Secure Magnet for Foreign Investment

Sisi Brands Egypt as Secure Magnet for Foreign Investment

Friday, 14 December, 2018 - 10:30
Egyptian President Abdel Fattah al-Sisi meets with investors, Asharq Al Awsat
Cairo- Asharq Al-Awsat

Egyptian President Abdel Fattah al-Sisi said that investment-friendly factors enjoyed by Egypt today have made the country one of the top magnets for foreign investment. Away from regional turmoil and circumstances, Sisi said Egypt provides a stabilized security and economy.

A trained labor force and trade agreements linking Egypt to African, Arab and European Union markets also play a role in improving its economic standing.

Presidential Spokesperson Bassam Radi stated that Sisi met with leading investors to review the latest economic developments and the promising investment opportunities available throughout the Egyptian market’s various sectors. They also reviewed national economic performance and progress under the comprehensive reform program being implemented.

On the sidelines of the Africa 2018 Forum, Egypt has signed agreements worth US$1.9bn. This is in addition to a number of other major agreements worth US$1.6bn signed by participants at the Forum.

The agreements include strategic partnerships to invest in Egypt's infrastructure, information technology, and renewable energy, and to foster entrepreneurship and private sector development in the country.

Dalia Ibrahim, head of the “Nahdat Misr” publishing group, said there are high prospects for increased investments in the Egyptian market designed to develop educational and cultural content.

Speaking for her group, Ibrahim revealed plans to establish five subsidiaries with entrepreneurs, in addition to forging new partnerships with two of the largest companies operating in the field. Nahdat Misr investments in the Egyptian marked are set to exceed EGP100 million.

The group is developing educational content in some Arab countries, as well as training teachers in regional markets.

“We have different projects in some Arab countries, such as Saudi Arabia in which we train teachers, and Oman in which we are developing math and science curricula, and the UAE in which we developed an educational project letter in cooperation with the UAE government,” Ibrahim told Asharq Al-Awsat.

She pointed to the signing of a protocol of cooperation with the Ministry of Immigration to teach and implement the project "Speak Egyptian" for Egyptians abroad, aimed to consolidate the Arabic language in the culture of workers abroad.

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