John Desrocher, the US Chargé d’Affaires in Cairo, has said that the US business delegation’s Friday visit to Cairo reflects the growing interest of the US administration and the US financial community in the Egyptian economy, considering Cairo an important and influential regional commercial and industrial centre in the region.
Desrocher affirmed, during a meeting held by the American Chamber of Commerce in Cairo Saturday, that the recent decisions of the Supreme Investment Council confirm the ability and readiness of the Egyptian investment climate to receive large investments during the coming period.
He added that the Egyptian-American partnership is growing, and that the coming period will witness the birth of a large number of projects in various investment sectors.
Hazem Fahmy, Assistant Foreign Minister for American Affairs, said that it was announced, during the meeting with the US government delegation, the launch of the joint high-level economic commission during the strategic dialogue between Egypt and the United States, which was held on 8 and 9 November 2021 in Washington, adding that Egypt is the largest trading partner of the United States on the African continent, it is also the largest investment destination in the continent.
Marisa Lago, Undersecretary of the US Department of Commerce for International Trade, said that Washington is looking forward to more cooperation and partnership with Egypt, based on the pillar of the private sector in the two countries, explaining that Egypt has many investment opportunities in the infrastructure sectors, digital transformation projects, and supply chains.
Steve Lotus, Vice President for Middle East Affairs at the American Chamber of Commerce in Washington, confirmed that there is great support at the level of leaders in the United States and Egypt regarding expanding the economic partnership, in both its commercial and investment parts, stressing the American side’s aspiration to expand cooperation with the Egyptian private sector in the coming period.
The American Chamber of Commerce in Cairo called for benefiting from the recent reforms adopted by the Supreme Council for Investment in expanding the Egyptian-American partnership.
Tarek Tawfik, Chairperson of the Chamber, confirmed during a symposium hosted by Amr Talaat, Minister of Communications and a number of US officials and businessmen, that the investment climate witnessed a great improvement and that there are great opportunities in several sectors.
Amr Talaat, Minister of Communications, presented the various investment opportunities in the telecommunications sector and the extent of development in Egypt’s classification in information and communication services over recent years. He also presented the details of the digital services included in Egypt’s digital strategy.
