The meeting discussed enhancing bilateral cooperation in various business, economic, and trade sectors, as well as reviewing investment opportunities available to Kuwaiti investors in the Egyptian market. The meeting was attended by Mohamed Gobran, Minister of Labor, Ghanem Al-Ghanem, Kuwaiti Ambassador to Cairo, Osama Shaltout, Egyptian Ambassador to Kuwait, Ambassador Ihab Fahmy, Assistant Minister of Foreign Affairs, Hossam Heiba, Chairman of the General Authority for Investment, Ahmed El-Sheikh, Chairman of the Egyptian Stock Exchange, Mohamed Jassim Al-Saqr, Head of the Kuwaiti side of the Egyptian-Kuwaiti Cooperation Council, Engineer Ibrahim AlAraby, Head of the Egyptian-Kuwaiti Cooperation Council, and members of the Egyptian-Kuwaiti Cooperation Council and investors from both sides.
Shimi stressed that this meeting represents a natural extension of
the strong fraternal relations that bind the two countries and peoples. He said
that the Ministry of Public Business Sector welcomed more Kuwaiti investments
in Egypt, stressing the Ministry’s keenness to strengthen partnership with our
Kuwaiti brothers in various fields, within the framework of the Egyptian
state’s keenness to encourage local and foreign investment and further empower
the private sector.
He added that the Ministry continues to implement an ambitious vision
to restructure and develop its subsidiaries and enhance their operational and
financial efficiency by introducing modern technology, improving management
systems, and opening the way for investment partnerships with the local and
foreign private sectors, thus enhancing their competitiveness locally and
internationally. He pointed out that the relations between investors and
businessmen in Egypt and Kuwait, which have long served as a bridge for
communication and cooperation, are now capable of playing a greater role in
supporting the two economies and creating successful models for Arab economic
integration.
Shimi reviewed a range of promising investment opportunities
available in the Ministry's subsidiaries, particularly in the spinning and
weaving, chemical industries, metallurgy, pharmaceutical industries, tourism
and hotels, and construction. He noted that these sectors are witnessing
significant development as part of the subsidiary companies' development plan,
enhancing opportunities for strong investment returns and provides a suitable
environment for long-term partnerships between the two sides.
For their part, the Kuwaiti participants expressed the depth of the historical relations between Egypt and Kuwait and their appreciation for the tangible economic developments and promising opportunities Egypt is witnessing. They indicated their desire to expand existing partnerships and explore new horizons of cooperation to benefit both countries.