Cairo – Mubasher: Egypt and Switzerland signed three memorandums of understating (MoU) to bolster mutual investment ties, develop higher education, and enhance the restructuring of public enterprise sector.
Swiss investments in the most populous Arab nation have increased, following the implementation of the economic reform programme, executive chairman of General Authority for Investment and Free Zones (GAFI), Mohamed Abdel Wahab, said in a statement on Tuesday.
More than 60 Swiss companies are currently operating in Egypt with total investments of $1.8 billion, Abdel Wahab revealed upon the signing of an MoU to develop mutual investment ties and support small- and medium-sized enterprises (SMEs).
During 2019, Egypt became the largest African importer of Swiss products, head of the Swiss Department of Economic Affairs, Education and Research, Guy Parmelin, pointed out.
The other MoU was signed by the chairman of state-owned Cotton & Textile Industries Holding Co., Ahmed Moustafa, in line with a plan to develop the spinning and weaving sector.
In addition, chairman of Badr University in Cairo (BUC) Hassan El-Kalla signed a letter of intent with the president of Business and Hotel Management School in Lucerne, Heinrich Meister, to add hotel management programmes at BUC.
