Greek investments in Egypt reaches $255M in 2023

CAIRO - 4 October 2023: In a meeting held between Egypt's Minister of Trade and Industry, Ahmed Samir, and the Greek Ambassador to Cairo, Νikolaos Papageorgiou, discussions focused on enchancing bilateral economic ties and exploring opportunities for increased intra-trade and joint investments between the two countries.

Greece holds the 11th position among European Union countries contributing to Egypt's economy. As of the end of April, Greek investments in Egypt reached $255 million, spread across 215 projects spanning various sectors including finance, industry, services, construction, tourism, agriculture, communications, and information technology.

Minister Samir revealed a 21% rise in the volume of trade exchange between Egypt and Greece during the year 2022. The total trade volume between the two countries amounted to approximately 2.56 billion euros, marking a substantial increase from the previous year's figure of 1.69 billion euros.

Expressing the commitment of the Ministry to support Greek companies operating in the Egyptian market, Samir assured that the ministry stands ready to address any challenges they may encounter and streamline investment procedures.

Minister Samir emphasized that Egypt has compiled a comprehensive list of 152 investment opportunities, specifically targeting the local manufacturing of production supplies. The objective is to deepen the national industry, meet the demands of the industrial sector, and promote self-sufficiency.