British investment in Egypt is estimated at about $50 billion, underscoring the UK's position as one of the country's largest foreign investors, UK Ambassador to Cairo Mark Bryson-Richardson said Wednesday. More than 1,500 British companies operate in Egypt, he said, with bilateral trade between the two countries growing steadily to around $5 billion a year. The remarks were made during a breakfast business briefing organised by the British Egyptian Business Association (BEBA). While the cumulative value of UK investment is difficult to quantify precisely, the ambassador said Britain continues to play a significant and influential role in Egypt's economy. British firms have a strong presence in key sectors including oil and gas, education and financial services, with some ranking among Egypt's largest exporters and taxpayers. Bryson-Richardson said part of his mandate is to spotlight these successes and highlight the contribution of British companies to job creation and the expansion of Egyptian exports. He also pointed to renewed momentum early next year, citing an expected visit by the British prime minister to Egypt that will include a trade and investment event aimed at showcasing current and future opportunities. There remains broad scope to deepen cooperation, he said, adding that improvements in Egypt's business environment, combined with the scale of the UK corporate presence, are likely to support additional British investment in the period ahead. Attribution: Amwal Al Ghad English
