Several numbers of Jordanian firms announced their plans to boost their investments in the Egyptian market, including Sayegh Group, Giant Industrial Group, Jordan Carbonate Company, Halawani Industrial Company and Al Saher Contracting Company. This came over a meeting with Egypt’s Minister of Investment and International Cooperation, Sahar Nasr.
Nasr’s meeting with the Jordanian companies came during her visit to Jordan for the preparation of holding the future joint committee meeting and participating in the World Economic Forum for the Middle East and North Africa, according to a statement of the Ministry of Investment and International Cooperation (MIIC).
Egyptian-Jordanian relations are deep, affirmed the minister, noting that the Egyptian government is always keen on boosting business relations with Jordan.
Nasr called on Jordanian investors to increase their businesses in Egypt, affirming, “Jordanian investments in Egypt are estimated at $600m across 1,945 companies, while Egyptian investments in Jordan are worth about $1bn in 499 companies.”
Notably, the ministry recently launched the ‘Investment without Challenges’ initiative in order to promote communication with investors about their proposals for solving the obstacles which face them.
On the other hand, Jordanian companies praised Egypt’s efforts in facilitating investments for businesspersons, including the MIIC’s efforts to solve some of the Jordanianinvestment problems in Egypt, asserting that the economic reforms improved Egypt’s business environment.
“The Egyptian market is promising and large which makes it unique when compared with other regional markets,” Ayman Hatahet, the general manager of Jordan Carbonate Company, said, noting that his company’s investments in Egypt are estimated at $100m.
Meanwhile, Sayegh group’s investments in Egypt are worth $30m inthe field of petrochemicals and painting materials, Michael Faiq Ibrahim Al-Sayegh, the group’s chairperson, said, affirming that the group plans to increase its investments in Egypt in light of the special opportunities that Egypt enjoys.
The Giant Industrial Group will invest $7m in the sector of laundry products in Egypt, Hassan Al-Samadi, the chairperson of the group, said.
Furthermore, Halawani Industrial Company intends to boost its business in Egypt, the chairperson of the company, Abdel Kareem Halwani, said, noting that the company’s investments in Egypt’s food processing sector are worth $10m.