The Ministries of Communication and Military Production held a coordinative meeting with some American companies working in Egypt. It was attended by the Minister of Military Production Mohamed Saeed El Assar, the minister of communications and information technology, Amr Talaat, the Minister of Trade and Industry Amr Nassar, the chairperson of the Federation of Industries Mohamed El Sewedy, the chairperson of the US Egypt Business Council, Omar Mehanna, and the chairperson of the American Chamber of Commerce in Cairo, Tarek Tawfik.
This comes within the framework of Prime Minister Moustafa Madbouly’s preparation for the visit of the delegation of the Chamber of Commerce and the American Minister of Trade to Egypt in October 2018.
Assar noted that this meeting comes within the framework of the policy the state adopts to increase and attract American investments, as Egypt is considered one of the promising markets economically for the increase in the volume of available energy (electricity/gas), as well as its infrastructure, which was established in accordance with international standards, and the New Investment Law, which allows promising investment opportunities and increasing foreign exchange reserves, in addition to its economic growth rates, all of which helps create an environment attractive for American investments with major manufacturing capabilities and well-trained manpower.
For his part, the Minister of Communications Amr Talaat, said that Egypt has qualified and trained cadres, whether in the local market or with companies that the US is considering expanding through in Africa.
He pointed out that the Ministry trains 4,000 people annually, and aims to train 10,000 next year in various specialties out of the belief that specialisation is this phase’s motto. Talaat noted that the legislations that were issued over the past period made the Egyptian market more stable, which assures American investors.
For his part, Mehanna said that the Egyptian American relations are strong, which was seen through signing the white paper during the visit of President Al-Sisi to the US. He also said that the Egyptian government has achieved success over the past period, which helped attract more investments.
During the meeting, the representatives of American companies expressed their appreciation for the Egyptian government’s care to develop cooperation with American companies, stressing that the role played by the recent legislatives, as well as the ambitious programme of the government, will work to attract American companies to invest in Egypt.