Cairo – Mubasher: Egypt’s investment minister Sahar Nasr and Denmark’s ambassador to Cairo Susanne Shine were in talks over reinforcing economic cooperation between both countries, as well as boosting Danish investments in Egypt.
Shine said that a delegate of major Danish firms will be visiting Egypt to discuss new investment opportunities in Egypt by the end of 2017, according to a statement by the Ministry of Investment and International Cooperation.
Nasr welcomed the intentions of the Danish side to pump new investments into Egypt.
The minister invited Shine to invest in a number of national projects such as the Suez Canal Corridor Area Project, the New Administrative Capital, and New El-Alamain City.
The Danish ambassador praised the Egyptian government’s efforts in improving the investment environment in Egypt, stressing that Denmark supports Egypt’s economic reform programme.
Both parties discussed the required arrangements to sign a memorandum of understanding (MoU), upon which Denmark will grant Egypt a loan for wind power generation project.
The Central Bank of Egypt (CBE) had previously announced a 14.5% increase in Egypt’s foreign direct investment (FDI) to $7.9 billion in fiscal year 2016/2017 from $6.9 billion in the prior fiscal year.
Egypt is currently looking to attract between $13 billion to $15 billion investments during FY17/18.
