Egypt plans to attract US$5 billion in Indian investment by 2027

Egypt's Minister of Investment and Foreign Trade, Hassan El Khatib, stressed the government's commitment to creating a favourable environment for export-oriented investments. This was reported by Daily News Egypt, a partner of TV BRICS.

During a meeting with the Egyptian-Indian Business Council, the head of the Egyptian ministry mentioned the growth in trade between the African country and India, which has been fuelled by mutual visits by delegations. The event noted the increasing presence of several Indian companies in Egypt, especially in sectors such as chemicals and plastic waste recycling.

Furthermore, plans are underway for Indian companies to enter the Egyptian market in areas such as renewable energy, green hydrogen production, engineering, and information and communication technology. The council supported an initiative to increase Indian investment in Egypt to US$5 billion by 2027.

The meeting highlighted various important industrial sectors in Egypt, including chemicals, fertiliser manufacturing, pharmaceuticals, leather, glass, automobiles, and agro-industries. The event discussed the main challenges faced by these sectors and emphasised the importance of increasing the number of professional institutes for training.

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