Three MOUs Signed During Egyptian-Swiss Investment Forum

The General Authority for Investment and Free Zones, in cooperation with the Swiss Embassy in Cairo, organized the Egyptian-Swiss Investment Forum.

The two sides signed three memoranda of understanding in the areas of strengthening bilateral investment relations, modernizing higher education, and developing the structure of the public business sector.

Chairperson of the General Authority for Investment and Free Zones, Mohamed Abdel Wahab, said that the Swiss investments increased amid the economic reform program, as there are currently more than 60 Swiss companies in Egypt with investments amounting to $ 1.8 billion, pointing out that there is cooperation between the two countries to increase the volume of investments and transfer the Swiss expertise and technology to Egypt.

Meanwhile, Minister of Public Business Sector, Hisham Tawfiq, said that Egypt is willing to attract Swiss investments in the field of spinning and weaving, basing on the great history of cooperation between the two countries in this field.

Swiss Federal Councillor Guy Parmelin, head of Switzerland’s Federal Department of Economic Affairs, Education and Research, said that this year’s forum is of special importance because it coincides with the 110th anniversary of the beginning of economic and trade relations between the two countries, in which the volume of bilateral trade reached about 1.3 billion dollars in 2019, according to Swiss statistics.

Engineer Yahia Zaki, head of the Suez Canal Economic Zone, invited Swiss companies to visit the Suez Canal Economic Zone to know about the investment opportunities there.