NEW DELHI: Egypt is thinking about the opportunity of allocating a distinct house of land for Indian industries within the Suez Canal Economic Zone (SCEZ), a joint remark launched through the 2 nations at the summit assembly stated on Thursday. It added that the Indian facet might prepare a grasp plan for the proposal.
The proposal is within the context of India’s be offering to inspire its firms, that have the possible to adopt out of the country investments, to use the to be had funding alternatives in Egypt.
“Egypt welcomes the flow of more Indian investments and promises to offer incentives and facilities as per applicable regulations and frameworks,” stated the remark.
“Both leaders (Narendra Modi and Abdel Fattah El-Sisi) welcomed the expansion of Indian investments in Egypt, which is currently more than $3.15 billion. They agreed to encourage businesses from their respective countries to explore emerging economic and investment opportunities in each other’s countries,” it added.
The two leaders preferred the robust bilateral financial engagement and expressed pleasure on the present degree of bilateral business at a document top of $7.26 billion in 2021-22, regardless of the demanding situations posed through the pandemic. “They expressed confidence that a bilateral trade target of $12 billion could be achieved within the next five years by both countries, by diversifying the trade basket and focusing on value addition,” it stated.
The proposal is within the context of India’s be offering to inspire its firms, that have the possible to adopt out of the country investments, to use the to be had funding alternatives in Egypt.
“Egypt welcomes the flow of more Indian investments and promises to offer incentives and facilities as per applicable regulations and frameworks,” stated the remark.
“Both leaders (Narendra Modi and Abdel Fattah El-Sisi) welcomed the expansion of Indian investments in Egypt, which is currently more than $3.15 billion. They agreed to encourage businesses from their respective countries to explore emerging economic and investment opportunities in each other’s countries,” it added.
The two leaders preferred the robust bilateral financial engagement and expressed pleasure on the present degree of bilateral business at a document top of $7.26 billion in 2021-22, regardless of the demanding situations posed through the pandemic. “They expressed confidence that a bilateral trade target of $12 billion could be achieved within the next five years by both countries, by diversifying the trade basket and focusing on value addition,” it stated.