€100m of European Investments to Set up Projects in Egypt

Industry and Foreign Trade Minister Hatem Saleh said on 11/11/2012 that an international firm seeks to establish a number of home electrical appliances projects with €100 million investments in the coming stage in Egypt. The minister, during a meeting with the firm representatives, noted that the government gave a number of investment incentives including supporting exportation and providing power at competitive prices.

Saleh pointed out that Egypt enjoys a large market of 80 million consumers. It has 16 industrial zones and four million skilled workers, he said, adding that the government seeks to lure foreign investments in the strategic sectors including engineering, furniture, foodstuffs, spinning and weaving industries to increase their competitiveness on domestic and foreign markets.