New cities, SCZone, infrastructure key focus of UK firms: Trade envoy



Mon, 25 Sep 2017 - 12:33 GMT


Mon, 25 Sep 2017 - 12:33 GMT

UK Trade Envoy Jeffrey Donaldson - Photo by Doaa Farid, Egypt Today

UK Trade Envoy Jeffrey Donaldson - Photo by Doaa Farid, Egypt Today

CAIRO - 25 September 2017: The United Kingdom is encouraging its investors to invest in the Suez Canal Economic Zone (SCZone) in the planning, construction and factories sectors, UK trade envoy Jeffrey Donaldson said in a media roundtable Monday.

Heading a delegation of 14 British companies, who are visiting Egypt to explore investment opportunities, Donaldson said that the companies will meet chairman of SCZone Mohab Mamesh to discuss potential investments.

Donaldson said he invited Mamesh to visit the UK to promote the SCZone projects.

The companies met the Minister of Housing Mostafa Madbouly to discuss investment in the New Administrative Capital and New Alamein City.

The UK is welcoming the economic reform measures taken by the Egyptian government, "as it made Egypt attractive for UK investors," he said.

Donaldson said that after this visit, he will meet with investors in Manchester and Edinburgh to market the available opportunities in Egypt.

"I have also invited Madbouly to visit the UK to promote the New Alamein City," he noted.

Donaldson said he met the Armed Forces' Engineering Authority and the Minister of Petroleum Tarek El-Molla, adding that he will meet Prime Minister Sherif Ismail on Monday as well.

"In general, we are welcoming the economic reform and we are seeing its fruits now reflected in economic growth rates... we are here now to make it easier for UK companies to invest in Egypt," Donaldson added.

Donaldson, arrived in Cairo with a delegation of 14 British companies on Sunday to explore new business opportunities in various sectors

The companies, including Rolls Royce, Bombardier and London International Patient Services, intend to invest in the infrastructure, defense, healthcare and agriculture sectors.

Seventy percent of the companies involved are new to doing business in Egypt.

British investors will be looking to explore new opportunities in the sectors of infrastructure, health care, railway and ports, in addition to the non-oil sector.



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