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Egyptian businessmen to visit Czech for investment

Businessmen Team news 22 April 2025 08:03 PM
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Egyptian businessmen to visit Czech for investment

Engineer Hassan El Khatib, Minister of Investment and Foreign Trade, met on Monday with Ivan Jukl, Ambassador of the Czech Republic to Egypt, to discuss strengthening bilateral relations and advance economic and trade cooperation between the two countries.

El Khatib noted that the meeting reviewed ways to support joint investments and encourage partnerships between the public and private sectors in both countries. He highlighted that the Egyptian government prioritizes attracting advanced technology investments, achieving sustainable development and providing decent and productive job opportunities.

He indicated his eagerness to visit the Czech Republic soon, leading an official delegation including representatives of the Egyptian business community, to discuss ways to enhance cooperation, highlight recent reforms to the investment environment, and discuss steps being taken to improve the business climate in Egypt, both legislatively and executively.

El Khatib explained that Egypt aims to enhance its trade competitiveness to become one of the top 50 global economies in the field of trade, by reducing customs clearance times and costs and activating World Trade Organization tools to protect national industries.

Jukl expressed his great appreciation for the Egyptian state's vision for developing foreign trade and increasing investment, stressing that what was presented during the meeting represents a realistic roadmap for strengthening the partnership between the two countries. He also expressed his country's willingness to offer its expertise in the areas of economic and institutional transformation, and to benefit from the Czech experience in reducing unemployment rates and supporting innovation and technology.

Jukl also emphasized that Egypt enjoys competitive tax policy advantages, making it an attractive destination for advanced, non-labor-intensive investments. He noted that Czech companies are seeking to expand their operations in promising markets, such as Egypt, with a focus on creating hundreds of job opportunities in advanced industries, most notably the aviation sector.