Indian investments in Egypt reach $3.2 bln: Trade minister

Samir’s remarks, on behalf of Prime Minister Mostafa Madbouly, came during the 21st annual forum of the Confederation of Real Estate Developers’ Associations of India held in Sharm El-Sheikh.

Samir confirmed that both countries are linked by long historical relations based on bilateral ambitions to maintain economic and social development and boost cooperation in various fields, especially trade, investment, and cultural exchange.

"Egypt has implemented several steps to attract more foreign direct investments (FDI) in the real estate development sector including establishing investment zones, issuing regulations and rules, and accelerating settling disputes," he noted.

He also stressed Egypt's commitment to improve efforts for enhancing the business climate in this vital sector through providing transparency, simplifying procedures, and promoting investment opportunities.

During the forum, Samir noted that the Egyptian real estate sector represents more than 20 percent of GDP, as it plays a pivotal role in economic development.