New delhi: Egypt is actively seeking to attract increased Indian investments across various industrial sectors that align with local market demands, according to a statement made by the Minister of Foreign Affairs, Emigration and Expatriates, Badr Abdelatty. The announcement was made during a meeting with Ashok Chaturvedi, Chairman of UFLex Group, in New Delhi. This meeting marked the beginning of Abdelatty's visit to the Indian capital.

According to State Information Service Egypt, Abdelatty highlighted that UFLex is currently the second-largest Indian investor in Egypt, with its investments surpassing $350 million. The company is planning to expand its operations in Egypt by constructing a new plant in Ain Sokhna. This expansion underscores the potential for growth and collaboration between Egypt and Indian businesses.

The Egyptian government is committed to creating a more competitive and attractive investment climate for both local and foreign investors. Abdelatty outlined several measures the government is taking, including enhancing transparency, improving the institutional and legislative framework, and streamlining business procedures. These efforts aim to remove barriers that investors face and to reinforce the private sector's role as a key development partner in the country's economic growth.

Furthermore, Abdelatty emphasized the government's dedication to addressing the needs of foreign investors and alleviating any challenges they may encounter. This includes facilitating visa procedures for executives of foreign companies operating in Egypt, thereby ensuring smoother operations and stronger international business relations.