UK Ambassador to Egypt John Casson - File photo/UK Government Official Website
CAIRO – 26 October 2017: Egypt’s AMECO, a medical equipment company, has started a joint venture with British company Kimal, investing $4 million to launch a state-of-the-art facility to produce catheters, a statement from the British embassy said Thursday.
The new venture is set to develop export opportunities to 25 new countries, while Egypt and Britain will benefit from expansion of sales in new regional markets, capitalizing on Egypt’s strategic position.
Egyptian AMECO will also transfer know-how expertise from the United Kingdom to the Egyptian medical technology sector.
“This new UK-Egypt venture demonstrates the potential British companies have to help transform Egypt's economy. In the next five years, the $4m investment will reach $20m and provide Egypt with top-quality medical products, with new jobs for Egyptians and new exports to European countries.” British Ambassador to Egypt John Casson said.
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.