Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Gold prices inch up on Aug. 12th    Egyptian pound closes high vs. USD on Tuesday – CBE    Edita Food Industries Sees 72% Profit Jump in Q2 2025, Revenue Hits EGP 5 Billion    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    PM Madbouly reviews progress of 1.5 Million Feddan Project    Australia to recognise Palestinian state in September, New Zealand to decide    Trump orders homeless out of DC, deploys federal agents and prepares National Guard    Egypt, Côte d'Ivoire hold political talks, sign visa deal in Cairo    Egypt's TMG H1 profit jumps as sales hit record EGP 211bn    Egypt, Germany FMs discuss Gaza escalation, humanitarian crisis    Egypt, Huawei explore healthcare digital transformation cooperation    Global matcha market to surpass $7bn by 2030: Nutrition expert    Egypt, Huawei discuss expanding AI, digital healthcare collaboration    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Oil rises on Wednesday    Egypt, Uganda strengthen water cooperation, address Nile governance    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Egypt, Malawi explore pharmaceutical cooperation, export opportunities    Egypt's Foreign Minister discusses Nile water security with Ugandan president    Egyptians vote in two-day Senate election with key list unopposed    Korean Cultural Centre in Cairo launches folk painting workshop    Egyptian Journalist Mohamed Abdel Galil Joins Golden Globe Voting Committee    Foreign, housing ministers discuss Egypt's role in African development push    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



US business support
Published in Al-Ahram Weekly on 12 - 11 - 2014

Executives from around 70 major US companies were in Cairo this week for a three-day visit. The delegation, which met with President Abdel-Fattah Al-Sisi and Prime Minister Ibrahim Mehleb, was organised by the US-Egypt Business Council and hosted in Egypt by the American Chamber of Commerce (AmCham Egypt).
“This is the US Chamber's largest international trade delegation ever,” said the US embassy Website in Cairo.
The delegation was led by US senior advisor Ambassador David Thorne and included representatives from the US Export-Import Bank and the US Overseas Private Investment Corporation.
The visit is Thorne's fourth trip to Egypt in the last nine months. “We look forward to productive discussions on ways to support Egypt's economic initiatives that encourage expanded US trade and investment,” Thorne told a conference hosting the delegation organised by AmCham.
According to AmCham President Anis Aclimandos, changes in the Egyptian economy had encouraged the companies to visit Egypt, especially since the government had shown a desire to make adjustments to investment and labour laws and issue a new energy tariff.
Various Egyptian officials took turns to tell the participants about developments in the Egyptian economy. Minister of Industry Mounir Fakhri Abdel-Nour focused on the economic reforms carried out this year, especially the energy subsidy reforms. Meanwhile the minister of investment referred to new laws easing investment procedures.
Delegation members meanwhile had different interests. Sean Strawbridge, vice-president of international asset development at the Oxbow Corporation which has been in Egypt for 24 years and exports raw materials to the fertilisers industry, told Al-Ahram Weekly that his company had participated because the government's approval of the use of coal at cement plants could create new investment opportunities.
Craig Duell, general manager for PHP, which works in oil exploration in Egypt, said that it also saw new opportunities and would increase investment.
A US businessman of Egyptian origin, Mustafa Al-Alaili, who is the managing director of the American Trade and Technology company, said that he had started his business in the US 20 years ago.
“I have been thinking about investing in Egypt every day, but I was scared of the bureaucracy,” he said, adding that he had come to Cairo to explore the new situation in the country to see how he could offer his support.
The relationship between Egypt and the US worsened following the ouster of former president Mohamed Morsi last July, and the US suspended the delivery of 10 Apache helicopters that had previously been agreed upon.
The US said in April that the helicopters remained in storage in the United States amid concerns that they could be used against civilians. However, the US announced the release of the Apache helicopters recently, just six weeks after Al-Sisi's visit to Washington in support of Egypt's fight against Islamic State militants.
US businessmen were only interested in business, according to Hani Kesess, a member of AmCham, and they did not care about political affairs.
Kesess's opinion may be partially true, but while delegation members were announcing to the media their desire to invest or increase their investment in Egypt, in conversations with their Egyptian counterparts they were keen to discover the latest political and security developments.


Clic here to read the story from its source.