UK embassy in Egypt - File photo
CAIRO – 28 October 2017: A new joint venture between British Kimal and Egyptian AMECO was inaugurated last Tuesday in the 6th of October City.
The companies together invested $4m to launch a state-of-the-art facility to produce medical equipment to provide the Egyptian healthcare industry with innovative products and enhance the treatment of patients in Egypt.
The new venture will further develop export opportunities to 25 new countries. AMECO will transfer know-how expertise from the UK to the Egyptian medical technology sector, the British embassy in Egypt said on its Facebook page.
Both countries will benefit from the expansion of sales in new regional markets and will capitalize on Egypt’s strategic position.
“This new UK-Egypt venture demonstrates the potential British companies have to help transform Egypt's economy. In the next five years, the $4 million investment we are celebrating today will reach $20 million and provide Egypt with top-quality medical products, with new jobs for Egyptians and new exports to European countries,” said British Ambassador to Cairo John Casson.
In September, a British trade delegation arrived in Cairo to explore new investment opportunities in Egypt.
British investment in Egypt has been growing recently, according to the British embassy. It cited examples such as the opening of a new factory in Egypt by British manufacturer SEWS in August and British telecommunications company Vodafone allocating LE 2 billion to expand in Egypt this year.