Egypt is the gate to Africa, Middle East: Sisi
Sisi also stressed on the provision of the legislative environment in Egypt right now, referring to the low labor cost.
Egypt’s president met 16 Austrian companies that are operating in Egypt, and a number of Egyptian businessmen, who are members of the Egyptian Austrian business council, on Wednesday.
Sisi emphasized Egypt’s balanced foreign policy with all countries in the Middle East, Presidential Spokesman Bassem Rady said in press statements.
According to Rady, Sisi described these relationships as balanced, constructive, and based on development, mutual respect and cooperation.
The president of Egypt stressed the importance of settling part of the Austrian expertise and industries in Egypt to guarantee sustainability and good prices.
Rady added that Sisi reviewed in the meeting the investment opportunities in Egypt during the current period and the procedures taken by the government to facilitate foreign investors’ woes, including doubling the price of the dollar and solving the problem of remittances of foreign companies’ profits abroad.
He also reviewed the national projects such as sanitation projects, in addition to reviewing the investment opportunities of the economic zone of the Suez Canal and the new Canal which saves time for ships.
Austrian companies which attended the meeting are operating in the fields of energy, railway, industry, agriculture and sanitation.
Sisi referred to the size of the Egyptian market, saying that it’s one of the biggest markets in the region that includes 100 million citizens, asserting that Egypt is the gate to Africa and has several agreements with important regional and international groups.
Rady said that there is big trust between Egypt and the African Countries, adding that the political leadership in Egypt is able to become a successful factor for any foreign investor.
The attending investors praised the outcomes of the meeting with Sisi in Vienna, according to MENA.
VIENNA, 19 Dec 2018: Egyptian and Austrian investors lauded the outcome of their meeting with President Abdel Fattah El Sisi in Vienna early Wednesday. Speaking to MENA, the investors said Sisi expounded measures Egypt has taken to improve the investment climate and offer all needed facilities to investors.
This meeting came during Sisi’s four day to Vienna to attend the High-Level Forum Africa-Europe hosted by Austria.
CAIRO - 18 December 2018: The High-Level Forum Africa-Europe hosted by Austria kicked off on Tuesday in Vienna as it holds the rotating presidency of the Council of the European Union in the second half of 2018.
During the visit, President Sisi and Austrian Chancellor Sebastian Kurz witnessed the signing of 10 memoranda of understanding (MoUs) by ministers of both countries, in the sectors of finance, information and communication technology (ICT), scientific research, technology and innovation, infrastructure, and railway.
On the same note, they reached an agreement for the Austrian side to establish a railway machinery factory in an Egyptian free zone.
CAIRO - 18 December 2018: President Abdel Fatah al-Sisi announced that an Egyptian-Austrian committee will convene in 2019 to identify files of mutual interest during a press conference in Vienna with Chancellor Sebastian kurz.