Egyptian business official Ahmed el-Wakeel
Cairo – Mohammed Abdullah
The Federation of Egyptian Chambers of Commerce has outlined plans to work closely with the Qatari-Egyptian Business Council after figures showed that the Emirates
is the third biggest Arab investor in Egypt.
Head of the Federation of Egyptian Chambers of Commerce, Ahmed el-Wakeel said that his organisation was cooperating with the Federation of Egyptian Industries and other business organisations to attract investors to Egypt.
Wakeel added that during a recent meeting with representatives of the Qatari-Egyptian Business Council both sides agreed to organise visits for the leaders of Egypt's business organisations to Emirates and pave the way for increasing cooperation between the two countries.
Head of Investment Council for the Egyptian Businessmen Association, Hamdi Rashad praised efforts to restore the relations between the two countries, adding that it could push forward the growth rate in Egypt.
In a related development, Egypt's Electricity Minister Ahmed Mustafa Emam said that the state would implement agreements signed in the field of renewable energy. He added that they would take the necessary measures to establish an Egyptian-Emirati Company to produce the energy.
According to Egypt’s Central Bank, Emirati investments witnessed a notable increase in Egypt during the last quarter of 2012, with the figure estimated around the 41 percent mark.