Egyptian Minister of Trade and Industry Ahmed Samir said that Egypt and India have a long history of cooperation that supports each other’s goals of economic and social development.
He made these remarks at the 21st annual forum of the Confederation of Real Estate Developers Associations of India (CREDAI) held in Sharm El Sheikh in the presence of many Indian business leaders. He added that the forum is an opportunity to showcase investment opportunities and discuss policies that promote sustainable development and attract more investments.
Sameer said Egypt’s real estate sector accounts for more than 20% of GDP and plays an important role in promoting growth, investment and job creation. He also said that the department provides housing to the people and develops infrastructure projects.
He said India’s investments in Egypt amounted to $3.2 billion in 52 projects in sectors such as food industry, chemicals and tourism.
Samir said Egypt has implemented a number of policies to attract more foreign direct investment in the real estate sector, including establishing investment zones, issuing regulations and rules, and establishing specialized courts to speed up dispute resolution. I explained that I was doing it. He said these measures have increased foreign direct investment in the real estate sector and infrastructure projects.
He confirmed the Egyptian government’s commitment to improving the business environment for the real estate sector by increasing transparency, simplifying procedures and providing more opportunities for growth and investment. He called on the participants of the forum to explore the Egyptian market and establish cooperation projects in the real estate sector.
Prime Minister Sameer also highlighted Egypt’s accession to BRICS, saying that this is a great opportunity for Egypt and India to strengthen cooperation in the real estate field and other fields. He added that Egypt’s accession to BRICS will open new horizons for the development of economic relations with India and other African countries.