Delegates from 25 of Spain’s largest companies gather in Cairo

Egypt

A delegation of 25 of Spain’s largest companies and businessmen have been gathering in Cairo to study opportunities for investments and bilateral trade.

Egypt is in the midst of aggressive economic reforms that aim to rebuild the economy shattered by years of political instability.

Several foreign delegations have been studying the potential of investments in Egypt, including Spain.

Foreign direct investments bring in much needed hard currency, employment opportunities, tax income and exports revenues to any country.

Spanish Bilateral trade and investments with Egypt is less than one billion euro, but the European country is keen to boost that amount.

One sector that is benefiting from this improved cooperation is renewable energy. Spain has invested $500 million and will pump more money in the wind and solar energy.

A multi billion project to establish the infrastructure for a high speed railway is also in the works.

Egyptian officials grabbed this opportunity to highlight the country’s latest economic reforms and opportunities available to the private sector.