Indian firms eye fertiliser, green hydrogen, food investments in Egypt – Dailynewsegypt
Indian companies are expressing strong interest in investing in Egypt’s fertiliser, green hydrogen and food production industries, according to a statement by the country’s General Authority for Investment and Free Zones (GAFI).
GAFI CEO Hossam Heiba met with Nivruti Rai, CEO of Invest India, India’s Investment Promotion Agency, and several leading Indian companies seeking investment opportunities in Egypt, during a promotional visit to India.
Heiba emphasised the Egyptian government’s efforts to create an attractive investment environment. He highlighted infrastructure developments including the expansion of road networks by over 20,000 kilometres, the modernization and establishment of 27 seaports, and numerous renewable energy projects, notably the Benban solar power plant in Aswan.
Heiba encouraged Indian investment in key Egyptian sectors such as automobiles, home appliances, electronics, textiles, food, pharmaceuticals, education services and information and communication technology (ICT). These sectors already attract significant foreign investment and offer substantial incentives.
Rai stated that Indian companies are keen to form partnerships with Egypt’s private sector. They are also interested in contributing to infrastructure development in the areas of industrial development, renewable energy and logistics, through collaboration with the Egyptian government.
Heiba and Rai agreed to provide Indian counterparts with information on partnership opportunities with the Egyptian government, including regulations and frameworks. Plans are also underway for reciprocal promotional visits to explore priority projects for both countries and to launch a dedicated website showcasing investment collaboration.
Indian companies expressed interest in investing in various industries in Egypt, particularly fertiliser, green hydrogen and food production. These sectors cater to the growing needs of the Egyptian and regional markets. Egypt’s strategic location, serving as a hub for investment in Africa and Southern Europe, offers Indian companies a platform to expand their reach across the region.