Hany Abou-el-Fotouh, economic expert and Head of Corporate Affairs at MIDAF Investments - Press Photo Hany Abou-el-Fotouh, economic expert and Head of Corporate Affairs at MIDAF Investments - Press Photo

Head of Corporate Affairs at MEDAF Investments: Kuwait’s investments in Egypt hit $4.7bn

Tue, Sep. 10, 2019
CAIRO - 10 September 2019: The Egyptian market has succeeded in attracting several Arab and foreign investments, especially after the Egyptian Government had offered considerable incentives to investors and improved the investment climate, said Hany Abou-el-Fotouh, economic expert and Head of Corporate Affairs at MIDAF Investments.

"The economic and trade relations between Egypt and Kuwait is one of the most vital areas of bilateral cooperation between the two countries” Abou-el-Fotouh added.

Abou-el-Fotouh was quoted as saying “ " Kuwaiti's investments in Egypt has helped increase the movement of people between the two countries, with an average of 64 flights a week, while the size of trade exchange between the two countries had increased significantly to nearly $3bn during the past four years".

“Alraya Almutamayeza Holding is one of the prominent Kuwaiti investors in the Egyptian market through its holding of 40% stake in MIDAF Investments,” He said.

"The Egyptian market is witnessing positive developments in favour of investors, which contributed to attracting various investments, most notably in the financial sector, logistics and manufacturing industries, which are considered one of the most attractive sectors for investments," he added.
 
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