US business community announces support for Egypt to be regional hub for energy

CAIRO – 26 May 2022: The US business community is supporting Egypt’s aspirations to be a regional hub for energy, said the US Chamber of Commerce’s President and CEO Suzanne Clark in a virtual meeting with Egyptian Prime Minister Mostafa Mabdouli on Wednesday.

The meeting was held to celebrate a century of the bilateral ties between the United Stated and Egypt, the US Chamber of Commerce said in a statement.

“We look forward to bringing more US businesses to Egypt to explore the economic and environmental benefits private sector technologies and services can offer,” Clark said.

She added that the US business community is committed to supporting Egypt’s aspirations to be a regional hub for energy—and to help meet the imperatives of both energy security and energy transition, in addition to digital transformation.

“So, as we celebrate one century of diplomatic ties between our two nations at this critical moment for the world, we do so with a fierce commitment to ensuring the next 100 years create even more opportunity and prosperity than the last,” she continued.

The US Chamber announced that it would play a “leading role in organizing the business community’s participation in COP27 in Sharm El-Sheikh, Egypt,” the chamber statement said.

“Last week, the US Chamber, in partnership with the American Chamber of Commerce in Egypt, led a GreenTech Business Delegation to Cairo to explore investment opportunities in Egypt’s green economy.  The Delegation connected 75 business executives from 40 companies with a host of Egyptian ministries and companies.  The U.S. government was also well represented with representatives from seven U.S. agencies.  During the visit, two private sector MoUs were signed, with additional opportunities in development,” the statement added.

The US-Egypt Business Council was launched in 1979 by former US President Jimmy Carter and late Egyptian President Anwar Sadat at the U.S. Chamber of Commerce, the USEBC.