Prominent businessman Mohamed Abul Enein, the honorary president of the Euro-Mediterranean Parliamentary Assembly attended the opening session of Egyptian-Kuwaiti Business Forum held in Cairo Monday.
On sidelines of the event, Abul Enein invited the Kuwaiti investors to take advantage of many investment opportunities in Egypt.
He stressed that the laws of special economic zones, which are characterized by great investment facilities, can be utilized, pointing out that these areas are investment opportunities for Kuwait.
Abul Enein pointed out that Egypt has agricultural industrial zones of a competitive investment advantage in the Egyptian market. He stressed the need to replace Arab technology with the imported ones.
Abul-Enein wished Kuwait Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah a speedy recovery.
During the opening session, Adel Nasser, President of the Giza Chamber of Commerce and Vice-President of the Federation of Chambers of Commerce said, “The Arab integration is a popular desire and political will. It is what Egypt and Kuwait seek. Based on this desire, the successive governments have made a clear effort to create a climate for the private sector to play its role in development.”
“Consequently, Kuwaiti investments in Egypt exceeded $ 9 billion with more than 1,100 companies covering all product and service sectors,” he added.
“On the other hand, Egyptian investments in Kuwait increased to exceed 1 billion dollars, and the volume of trade exchange exceeded 2.5 billion dollars last year, while Egypt receives annually more than 110 thousand Kuwaiti tourists with spending up to 600 million dollars annually,” said Nasser.
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