Dr Mohieldin Meets with Spanish Minister of Trade

Facets of investment cooperation between Egypt and Spain were discussed when the Minister of Investment, Dr. Mahmoud Mohieldin, met in Egypt with Spanish State Minister of Trade, Silvia Iranzo.

The meeting is part of the Egypt-Spain Investment & Business Cooperation Forum.

Dr. Mohieldin welcomed the Spanish official and her delegation, which included government officials and investors.

He also praised diversified Spanish investments in Egypt in the industrial, tourism, construction and services sectors.

Dr. Mohieldin also pointed out the positive development in Spain's investments in Egypt. Spain contributes to 125 Egyptian businesses, of which over 58 percent were created in the last five years alone.

The Mohieldin-Iranzo meeting was attended by the Spanish ambassador in Cairo, a number of government officials at the Spanish Ministry of Trade and Industry and some members of the Spanish Embassy in Cairo. Deputy Chairman of the General Authority for Investment (GAFI), Nivin Ashafie and a number of Ministry of Investment staff also joined the meeting.

“There is close and fruitful cooperation between Egyptian investors and their Spanish counterparts in some areas, topped by power generation from wind, water purification, treatment of solid waste, and other productive and developmental projects”, said the Spanish minister.

"Spain is keen to push bilateral cooperation in infrastructure, roads, small and medium enterprises (SMEs), and renewable energy," she added.

She also noted that there is a legal, regulatory framework between Egypt and Spain to organize work and ensure easy implementation of business.

"Egypt is also interested in cooperation in these areas," Dr. Mohieldin said, calling on the Spanish side to invest in these areas by taking advantage of the opportunities available on both sides of the Upper Egypt-Red Sea Road.

Minister Mohieldin directed GAFI to coordinate with the Spanish counterpart to organize a workshop for Spanish companies to display the available investment opportunities and provide all the necessary data on the projects available.