CAIRO: Minister of Trade and Industry Rachid Mohamed Rachid will discuss with the Chief Executive Officer of HSBC Stephen Green in London the new opportunities for investments of the British bank in Egypt. A senior ministry official said on Thursday that Rachid would encourage Green during their meeting in London to finance renewable energy, auto component manufacturing, food processing and textiles projects. He added that a delegation of British businesspeople are expected to visit Cairo in May 2007 to explore for business opportunities in energy and manufacturing. During his meeting with British investors, the Minister of Trade and Industry reiterated the Egyptian government s desire to attract British investments, the official said. Rachid articulated the trade advantages that Egyptian products have as a result of the country s trade pacts. The government hopes to increase foreign direct investments this year to exceed last year s record of $6.1 billion. The stock of British investments in Egypt amounts to $18 billion, according to 2006 figures from the Ministry of Trade and Industry.
