Trade Min.: Egypt keen to Expand Global Investments

By: Taarek Refaat

CAIRO, Dec. 22(SEE)- Amr Nassar, Minister of Trade and Industry stressed on Saturday that Egypt is committed to enhancing its investment opportunities in Africa, Eastern Europe, and Central Asia.

This came during the Parliament's Industry Committee meeting to review the ministry's insight regarding the upgrade of the Egyptian industry.

Nassar pointed to the formation of Egyptian task forces in 12 African countries to promote the exchange of experiences in the areas of disassembled products.

"We will develop manufacturing based on the raw materials available in the destination of investment," he added.

Nassar noted that the government benefited from President Abdul Fattah al-Sisi's foreign visits, which promoted trade cooperation with African countries.

"Investors study the local market before pumping their investments into the country," Nassar said, adding that attracting foreign direct investments (FDI) is directly linked to solving the obstacles facing local industries.

He stressed that the ministry is seeking to expand the local component in its domestic products.