UK Trade Envoy to Egypt Discusses Investment in Suez Canal Economic Zone

UK Prime Minister’s Trade Envoy to Egypt, Sir Jeffrey Donaldson MP, held a virtual visit to discuss UK-Egypt bilateral trade relations with the Chairman of the Suez Canal Economic Zone, Engineer Yehia Zaki, and the Chancellor of the Global Academic Foundation (GAF), Dr. Omaima Hatem.

During his meeting with Engineer Zaki, Donaldson expressed the UK’s commitment to increase investment in Egypt and to be the largest G7 investor in Africa by 2022. He also encouraged British companies to be part of building Egypt’s future through investing in its latest transformational mega projects.

Moreover, he welcomed Engineer Zaki’s views on priority projects and explained the support that UK Export Finance (UKEF) could provide. The UK Prime Minister’s Trade Envoy to Egypt also discussed the UK’s plans for the UN Climate Conference, COP26, which will take place in Glasgow in November 2021.

Chairman of the Suez Canal Economic Zone, Eng. Zaki said: “We truly appreciate and value the British interest in the Suez Canal Economic Zone and this virtual meeting is part of our ongoing dialogue. We remain keen on updating Sir Jeffrey Donaldson on the latest developments the zone is witnessing on various levels; in infrastructure, connectivity, flow of investments, targeted sectors in addition to the recent progress achieved in implementing SCZONE’s strategy for 2020-2025.”

During her meeting with Donaldson, Dr. Omaima Hatem shared the success story of the opening of Hertfordshire University’s new branch campus in Egypt. They also discussed ways to encourage investors to partner with UK education institutions and to bring high quality UK education to Egypt.

UK Prime Minister’s Trade Envoy to Egypt, Sir Jeffrey Donaldson, said: “Egypt is the UK’s third largest business partner in Africa and we remain committed to developing our partnership further. I strongly support the UK companies contributing to building Egypt’s future through investing in its new transformational mega projects."

"The UK has recently provided £1.7bn backing for a deal with Egypt for the Cairo Monorail project; the largest amount of financing it has ever provided for an overseas infrastructure project. Additionally, £1bn of UK Export Financing support is available to facilitate UK exports to Egypt. Between financing for infrastructure projects, and our support for quality education in Egypt through UK university branch campuses, the UK is committed to supporting Egypt’s economic and social development.