Cairo – Mubasher: Around 1,816 British firms are operating Egypt with total investments of $46 billion, the Egyptian investment and international cooperation minister said on Sunday.
Egypt is keen on cementing its strategic ties with the UK in a bid to reinforce their economic and investment collaboration, Sahar Nasr added in a statement.
Nasr highlighted the importance of mutual cooperation between the two countries in the fields of education, healthcare, small- and medium-sized enterprises (SMEs), and entrepreneurship, according to the statement.
This came on the sidelines of a meeting between Nasr and Matthew Rycroft, the permanent secretary at the UK’s Department for International Development, in light of the World Bank Group’s 2019 spring meetings.
Both parties have discussed boosting British investments in Egypt, as well as promoting the Arab-British partnership programme which allocates around GBP 6 million a year for Egyptian-British projects in several sectors such as the integrated economic development.
Furthermore, they have considered supporting the Egyptian SMEs under the Deauville partnership financed through the World Bank and International Finance Corporation (IFC).
They have also mulled over boosting scholarships in British universities for Egyptian students through Newton-Mosharafa Fund, in addition to raising collaboration with women support funds.
