Businessmen delegation to visit Spain in 2018 to lure investments

CAIRO - 18 December 2017: Head of the Egyptian side at the Egyptian-Spanish Business Council Maged al-Menshawy said Monday that an Egyptian promotional mission is set to visit Spain during the first quarter of 2018 to lure Spanish investments to the Egyptian market.

Menshawy told MENA that the mission, that will comprise Egyptian businessmen, aims to inform the Spanish society about the latest economic reforms implemented by the Egyptian government during the past period, including those connected with floating the local currency and luring new investments to the Egyptian market in the fields of infrastructure and upgrading the railway signaling system.

He underlined that issuing the new investment law and its executive regulation provided an attractive investment climate in Egypt.

The volume of trade exchange between Egypt and Spain reached 1.6 billion euros during the first eight months of 2017, compared with 1.3 billion euros during the same period of 2016 with a 17 percent increase.

The volume of Egyptian exports reached almost 780 million euros while that of Spanish imports hit about 824 million dollars.