Chairman of Emaar Properties UAE, Mohammed Al Abbar, expressed his intention to increase his company’s investments in Egypt during the coming period, especially in light of the Egyptian government’s investment projects, including the new Administrative Capital and the Suez Canal Development Zone, which will contribute to the achievement of development in Egypt. It comes during a meeting between Minister of investment and international cooperation Sahar Nasr and Al Abbar on the sidelines of the 13th investment forum of Hermes Group in Dubai, where they discussed the challenges facing investments in Egypt. Al Abbar was scheduled to implement the new Administrative Capital project after he signed a protocol with the Egyptian government during the economic conference held in Sharm el-Sheikh in March 2015, but the agreement has not been implemented.
Nasr revealed that the government has put the investment map including all the opportunities available for investment in the provinces, such as airports, seaports and industrial zones, to be presented in front of Arab and foreign investors. These opportunities are compatible with Egypt's vision to achieve sustainable development goals. She noted that many investors from Germany and European, Arab and Asian countries want to increase their investments in Egypt, and the government is working to provide an attractive investment environment for them.
Al Abbar briefed Nasr about his investments in Egypt, and some of the challenges facing him, while Nasr stressed that she aims to remove any obstacles facing investors in Egypt, adding that the attracting of foreign investment requires communication with local investors and solving their problems, especially as the more attractive countries for foreign investment are those who support domestic investment.