The Egyptian Embassy in Copenhagen organized earlier this week a roundtable discussion on investment opportunities.
The government expects the project to attract investments of up to $150 billion during its development, helping to provide millions of job opportunities and inject liquidity into the Egyptian economy.
the project represents the largest direct investment deal in the country's history, noting that it will bring $150 billion in investments to Egypt over the project's lifetime.
The deal involves $150 billion in investments during the project development period, including around $35 billion in direct investments for the Egyptian state within two months.
A press conference will follow the signing ceremony to explain the details of the deal at the Cabinet headquarters in the Administrative Capital.
This comes in the context of the current state efforts to attract foreign direct investment (FDI) and increase the country's foreign exchange resources, according to the cabinet’s statement.
That is in preparation for the investment conference Egypt will hold later this year.
Foreign investments in the sector reached $5.6 billion in 2022/2023, compared to $4.7 billion in prior year.
The initiative is part of the Egyptian government's strategy to increase annual tourist numbers by 25 to 30 percent with a target set for 2028
Their discussion primarily focused on diversifying collaboration in specialized industries such as automotive, communications, technology, and artificial intelligence
The government plans to achieve this goal by focusing on the development of the industry sector, enhancing the value of Egyptian products
Al-Kharafi stressed the keenness and seriousness in searching for available investment opportunities in Egypt, as he offered to enter into some of the opportunities available within the Egyptian initial public offering (IPO) program
According to CAPMAS, Turkish investments in Egypt amounted to $167.2 million in the Fiscal Year 2022/2023 (FY22/23), marking a 7.1 percent decline compared to the previous FY21/22 when it reached $179.9 million
However, during the same period, the government successfully offered T-bonds worth around LE 7 billion for durations ranging from 3 to 7 years, with an average return rate between 23 and 25 percent
The proposed industrial zone in Egypt aims to replicate the success of the existing industrial zone in Bursa, which specializes in various sectors including textiles, automobiles, aluminum, machinery, equipment, and advanced technologies
Madbouly said more than 1,000 private sector companies that take part in national programs which will help improve the Egyptian economy on all levels
EPP is one of the 35 state-owned companies that is part of Egypt’s initial public offering (IPO) program
Over the years, the bank has financed 175 projects in various sectors, such as infrastructure, human capital, and public sector reforms
Egyptian Prime Minister Mostafa Madbouli made the statement Thursday during the weekly Cabinet meeting.
GAFI’s president stressed that the authority is keen to cooperate with HSBC to attract, introduce, and connect more international investors to the growing business opportunities in Egypt