- Egypt offers land and government support to attract Indian investors and deepen ties
- Minister Saleh proposes a dedicated Egypt-India investment zone for joint business ventures
- Suez Canal and Golden Triangle zones highlighted as prime locations for Indian companies
Egypt sought on Sunday to draw Indian companies to its shores, offering land and government assistance to encourage investment and deepen economic ties between the two countries.
Speaking to business representatives from both countries, Egypt's Investment and Foreign Trade Minister Mohamed Farid Saleh said the government was prepared to establish a dedicated investment zone for Indian and Egyptian companies, tailored to the needs of Indian investors.
He pointed to the Suez Canal and Golden Triangle economic zones as key destinations for investment, saying Egypt was looking to draw more Indian companies into these areas.
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"We support our zones and that's why I would encourage you, as Indian businesses, to think seriously about an Egyptian-Indian free zone, investment zone, according to your needs," Saleh said.
He proposed developing a specialised industrial and business area where companies from both countries could operate jointly, collaborate on projects and build stronger commercial partnerships.
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Saleh said Egypt had several parcels of land available for investors, including locations in the mainland, and assured Indian businesses of assistance in identifying suitable sites and setting up operations. He said the proposed investment zone could give a fresh impetus to economic relations between the two countries.
Commerce and Industry Minister Piyush Goyal welcomed Egypt's proposal, saying he would ask Indian business representatives to examine the locations being offered and assess their investment potential.
The proposal comes as India and Egypt seek to expand economic engagement beyond existing trade ties, with manufacturing, infrastructure, ports, logistics and regional value chains emerging as key areas of cooperation.
A dedicated investment zone could provide Indian companies with a platform to establish manufacturing operations in Egypt and potentially strengthen their access to markets across the wider region.
The proposal reflects Egypt's broader push to draw overseas investors by offering ready-to-use industrial facilities and encouraging partnerships between foreign companies and domestic businesses.
(With PTI inputs)
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