President Abdel Fattah El-Sisi met in Azerbaijan with prominent business figures and CEOs of the major companies in the country, with the participation of a number of Azerbaijani ministers and senior officials, headed by the Azerbaijani minister of economy. From Egypt, the meeting was also attended by Minister of Foreign Affairs Mr.Sameh Shoukry, Minister of Electricity and Renewable Energy Dr. Mohammed Shaker, and Minister of Planning and Economic Development Dr. Hala El Saeed.
The Spokesman for the Presidency said President El-Sisi noted that Egypt looked forward to maximising joint investments between the two sides, whether at the governmental or private sector levels. The President explained the efforts and reforms undertaken by the state to simplify the administrative procedures for investments, within an integrated framework of the modern legislative environment for investment in Egypt. This is in addition to the huge investment opportunities available through the mega development projects being implemented, the Sovereign Fund, new and renewable energy projects, and the Suez Canal Economic Zone, which includes major industrial and logistical zones on the coasts of the Mediterranean and Red Sea, and the various investment privileges it enjoys. This is in addition to Egypt’s strategic location as a hub for the production and re-export of products to various countries, many of which share free trade agreements with Egypt, particularly in Africa, which has a population that exceeds one billion.
The Azerbaijani officials expressed their appreciation for the President’s keenness to meet with them personally, which further enhances cross-border joint cooperation between the two countries. They looked forward to maximising cooperation and joint investments with Egypt, in light of the political will they saw and the President’s personal follow-up to the activity of foreign investments in Egypt. This is in addition to the availability of many promising investment fields and opportunities in Egypt, mainly in the sectors of infrastructure, transportation, new energy, green hydrogen, electric power production, and pharmaceutical industries.
The President engaged in an open dialogue with the heads and representatives of Azerbaijani companies, who welcomed enhancing cooperation with Egypt. They also reviewed their plans to invest in Egypt or expand their existing projects in a number of fields, and to enhance communication between representatives of the private sector in the two countries to push bilateral economic relations to broader horizons to meet the aspirations of the two peoples.