Cairo – Mubasher: Egypt’s minister of investment and international cooperation, Sahar Nasr, on Saturday was in talks with officials from US Archer Daniels Midland (ADM) to pump new investment into Egypt.
The American company is interested in directly investing in the Egyptian market and establishing a branch in Egypt, as a first step for setting up their food industries’ factories in the country, especially after President Abdel Fattah El-Sisi’s approval of the new investment law, according to a statement.
Nasr met with Lutz Guderjahn, managing director for Europe, Middle East, and Africa (EMEA) at ADM, and Michael Michelsen, the firm’s EMEA business development manager.
She referred to the importance of Egyptian-US economic relations, stressing on the paramount role the private sector plays in bolstering these relations through increasing investments and transferring knowledge and experience, in order to serve common interests between both countries.
The Ministry of Investment and International Cooperation is working along with the other ministries to finalise the investment map, Nasr noted.
This map includes various investment opportunities for Egyptian, Arab, and foreign investors, as well as opportunities to establish large projects and small- and medium-sized businesses (SMBs), she added.
The ADM officials praised the procedures of Egypt’s economic reform programme to improve the business environment and the future of the Egyptian economy.
