agentny17
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20.02.2012 | Interesting article at Bikyamasr
A delegation of Iranian investors will arrive in Cairo within the next few days to discuss ways of boosting cooperation in the private sector.
Iranian investments will finally flow into Egypt with an estimated $5 billion in the form of industrial and commercial projects, for the first time after more than 30 years of the absence of diplomatic relations between the two countries.
The state-owned al–Ahram newspaper reported a delegation of Iranian investors will arrive in Cairo within the next few days to discuss ways of boosting cooperation in the private sector, and to discuss the possibility of operating direct flights between Iran and Egypt, with the Ministry of Aviation, and the use of Cairo Airport as a transit for Iranian passengers heading to America, Africa and Asia.
The newspaper quoted Al Sayyed Aqeeli, the Director of the Arab Company for Industry and Investment, the solicitor general of the Holding Company “Iran Garment” in the Middle East, which includes major Iranian companies, as saying that an agreement “was reached with all Egyptian ministers concerned, on the entry of Iranian investments in the Egyptian Market, to start with $5 billion,” indicating that both sides approved to allow Iranian investors to invest in Egypt, pointing out that the “these investment activities would provide at least 6,000 jobs during the first year.”
Aqeeli added that “it was agreed at a meeting on Sunday, with officials of the Ministry of Industry to re-run some auto companies, and the purchase of assets and debt of distressed Egyptian companies, and rehabilitation of closed factories.”
The meetings will be held with the Ministry of Aviation to discuss restarting direct flights between the two countries, and to consider the use of Cairo airport as a transit for Iranian passengers heading to America, Africa and Asia, where the number of travelers “would reach around two million passengers per year, which will bring huge returns to Egypt,” he said.
He noted that Egypt approved setting up joint projects in three governorates, Beni Suef, Minya and Sohag, to be implemented on an area of some three million square meters, “after fulfilling the required conditions.”
Iran plans $5 billion investment in Egypt - Egypt Business Directory: Web
I think this is great news, its about time both countries work together!!
A delegation of Iranian investors will arrive in Cairo within the next few days to discuss ways of boosting cooperation in the private sector.
Iranian investments will finally flow into Egypt with an estimated $5 billion in the form of industrial and commercial projects, for the first time after more than 30 years of the absence of diplomatic relations between the two countries.
The state-owned al–Ahram newspaper reported a delegation of Iranian investors will arrive in Cairo within the next few days to discuss ways of boosting cooperation in the private sector, and to discuss the possibility of operating direct flights between Iran and Egypt, with the Ministry of Aviation, and the use of Cairo Airport as a transit for Iranian passengers heading to America, Africa and Asia.
The newspaper quoted Al Sayyed Aqeeli, the Director of the Arab Company for Industry and Investment, the solicitor general of the Holding Company “Iran Garment” in the Middle East, which includes major Iranian companies, as saying that an agreement “was reached with all Egyptian ministers concerned, on the entry of Iranian investments in the Egyptian Market, to start with $5 billion,” indicating that both sides approved to allow Iranian investors to invest in Egypt, pointing out that the “these investment activities would provide at least 6,000 jobs during the first year.”
Aqeeli added that “it was agreed at a meeting on Sunday, with officials of the Ministry of Industry to re-run some auto companies, and the purchase of assets and debt of distressed Egyptian companies, and rehabilitation of closed factories.”
The meetings will be held with the Ministry of Aviation to discuss restarting direct flights between the two countries, and to consider the use of Cairo airport as a transit for Iranian passengers heading to America, Africa and Asia, where the number of travelers “would reach around two million passengers per year, which will bring huge returns to Egypt,” he said.
He noted that Egypt approved setting up joint projects in three governorates, Beni Suef, Minya and Sohag, to be implemented on an area of some three million square meters, “after fulfilling the required conditions.”
Iran plans $5 billion investment in Egypt - Egypt Business Directory: Web
I think this is great news, its about time both countries work together!!
