Egyptian Businessmen's Association (EBA) has signed in Nicosia on Sunday a memorandum of understanding with the Cyprus Chamber of Commerce and Industry (CCCI). Egyptian Minister of Investment and International Cooperation Sahar Nasr has attended the signing ceremony, which was held on the sidelines of the Egyptian-Cypriot Joint Committee. Nasr met with a number of Cypriot businessmen and investors, in presence of 40 companies operating in Cyprus in sectors of pharmaceutical industries, mutual funds, agriculture, fish farming, and tourism. The Egyptian minister also held a number of bilateral meetings with some Cypriot investors in Egypt to identify challenges facing them and the future of their investment plans. The Egyptian government works on the implementation of an inclusive economic programme to pave the way for foreign investors to invest, especially in a number of projects, such as the Suez Canal Axis Development, Nasr told investors. The Ministry of Investment and International Cooperation works on promoting investment opportunities in the Egyptian market, besides attracting companies and investors from Cyprus to set up projects in Egypt, notably in renewable energy, electricity, agriculture, infrastructure, and information technology sectors. Nasr reiterated that her ministry would accelerate the activation of the MOUs signed between both countries to enhance bilateral investment relations. It would also work on encouraging the exchange of delegations between both countries and promoting joint events relating to investment.
