Cairo: Egypt is focused on deepening economic and investment cooperation with Finland as part of its strategy to attract more foreign direct investments through expanded partnerships with European countries, Minister of Investment and Foreign Trade Mohamed Farid Saleh stated. Saleh emphasized this commitment during a meeting with Finland's Ambassador in Cairo, Riikka Eela, alongside a Finnish business delegation, where discussions centered on enhancing economic and investment links and fostering collaboration between the business communities of both nations.
According to State Information Service Egypt, the meeting was attended by key figures including Mohamed El-Gossaki, Chief Executive of the General Authority for Investment and Free Zones; Abdel Aziz El Sherif, Head of the Egyptian Commercial Service; and Mohamed Ayad, adviser to the Minister of Investment and Foreign Trade. Saleh highlighted Egypt's strategic geographic location and its comprehensive network of free trade agreements as crucial advantages for attracting foreign investments and expanding its production base. He cited recent advancements in infrastructure, industrial zones, and logistics as additional factors bolstering Egypt's investment appeal.
Saleh noted the government's ongoing efforts to improve the business environment by simplifying investment procedures, enhancing government services for investors, and advancing digital transformation. He expressed Egypt's interest in leveraging Finnish expertise in digitalization and artificial intelligence to further develop government services. Saleh also pointed to opportunities for expanding export-oriented manufacturing, as European companies restructure supply chains and seek production sites closer to European markets. He identified Egypt as a leading industrial destination in the southern Mediterranean, with significant potential for industrial partnerships with Finnish companies.
Ambassador Eela expressed Finland's interest in strengthening economic cooperation with Egypt, highlighting the growing interest of Finnish companies in the Egyptian market due to its promising investment prospects, especially in sectors like industrial equipment, ICT, digital transformation, and healthcare technology. She indicated that Finnish companies are considering expanding their activities in Egypt, particularly in technology, specialized industries, and energy-related sectors.
The Finnish ambassador emphasized that the business delegation's visit to Cairo is a key opportunity to enhance cooperation between the business communities and explore investment opportunities in Egypt. Plans are underway to organize an Egyptian-Finnish business forum, featuring discussions and presentations on investment opportunities, along with bilateral meetings between companies from both countries. Additionally, a program of field visits is being arranged for the Finnish delegation to explore industrial and investment zones in Egypt, with visits to existing factories to encourage new industrial partnerships.