Egyptian Trade and Industry Minister: More Polish Investments to Be Pumped Into Egyptian Market
Source: www.export-egypt.com 2/26/2018
Trade and Industry Minister Tarek Qabil said that more Polish investments will be pumped into the Egyptian market within the coming period thanks to the economic reforms adopted by the government lately.
During his meeting with a delegation of Polish companies, Qabil said the government took many measures to improve the investment and business climate in Egypt, especially enacting a new law to regulate the issuance of industrial licenses.
Qabil said the delegation groups five major Polish companies operating in manufacturing and assembling spare parts of cars and tiers of trams and trains, recycling used car batteries and excavation of minerals, natural gas and petroleum.
The visit is the fruit of successful coordination between the Egyptian trade office in Warsaw and the Egyptian businessmen association and it aims at expounding investment opportunities in the Egyptian market.
Thanks to the economic reforms adopted by the government, the minister said Egypt's budget deficit decreased to 9.5 per cent and its Gross domestic Product rose to 4.9 per cent.
All these figures mirror the international community's confidence in the Egyptian economy, he added.
The deputy chairman of the Polish Federation of Chambers of Commerce said the delegation seeks to get acquainted with the available investment opportunities in the Egyptian market and spheres of joint cooperation between the private sector and the state.
He said many Polish companies are eager to take part in the under-construction mega national projects in Egypt, including the Gold Triangle and development of the railways sector.