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Right time to invest in Egypt: Asian Infrastructure Investment Bank - Daily News Egypt

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Right time to invest in Egypt: Asian Infrastructure Investment Bank

Egypt has come long way in developing SCZone, attracting many local, foreign investments, with contracts worth over billions of dollars, says Mamish


Now is the right time to invest in Egypt, said Shixin Chen, head of the delegation of Asian Infrastructure Investment Bank (AIIB) members and board directors who are currently visiting Egypt.

Chen’s remarks came during a tour to the Suez Canal Special Economic Zone (SCZone), and the new tunnels of the Canal and East Port Said Port, in the presence of Sahar Nasr, minister of investment and international cooperation, and Mohab Mamish chairperson of the Suez Canal Authority (SCA), and the SCZone. The delegation marks the first visit of the AIIB’s officials to a non-Asian country.

Furthermore, the delegation visited the New Administrative Capital, and reviewed the investment opportunities, and is scheduled to visit the solar power projects in Aswan’s Benban on Wednesday, in which the bank invests $210m, praising the great investment opportunities in the SCZone.

He noted the bank’s aspiration to enhance cooperation with Egypt by investing in infrastructure projects, as Egypt enjoys an important strategic position to make it part of the Asian continent.

Moreover, Mamish said that the SCZone management is on track to complete the implementation of all the infrastructure needs of the zone, adding that it includes the power stations and the development of the logistics network in the ports of the economic zone.

He stressed the importance of implementing the intelligent transport system and increasing the capacity of the ports to transform Egypt into a global centre for the transport and logistics industry.

Mamish added that Egypt has come a long way in developing the SCZone, attracting many local and foreign investments, with contracts worth over billions of dollars, reflecting the confidence of local and foreign investors in the Egyptian economy.

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