Bahrain’s investments in Egypt hit $1.7bn

Bahrain’s overall investments have so far reached $1.7 billion in Egypt. Industry and Commerce Minister Zayed bin Rashid Al-Zayani released the updated figures today in a press conference on the sidelines of the three-day "Egypt Economic Development Conference – Egypt the Future".
He stressed deep-rooted relations bonding the two countries, pointing out that Bahrain pumped multi-million investments in Egypt so far and expressed his hope that the volume of investments would double in the coming years.
The minister is part of the high-level delegation led by His Majesty King Hamad bin Isa Al-Khalifa to the three-day economic development conference including representatives of the public and private sectors.
"Bahrain has been investing in Egypt over years and contributing to building strong bilateral relations in all fields", he said, describing the high-level delegation led by HM the King as reflecting Bahrain’s strong support and firm commitment to back Egypt.
He highlighted HM the King’s directives to study all aspects of cooperation and explore all investment opportunities with the Egyptian side so to as to provide all forms of support, pointing out that HM the King assigned him to transmit the message to Egyptian officials.
The delegation includes officials representing the sectors of finance, banking, public enterprises, industries, oil, petrochemicals, aluminum, tourism and telecommunications.
Al-Zayani paid tribute to the GCC states for their massive contribution to supporting Egypt’s economy, pointing out that Bahrain would also spare no effort to expand the volume of investments in Egypt.
Arab Shipbuilding and Repair Yard (ASRY) Chairman Shaikh Daij bin Salman Al-Khalifa, Mumtalakat Chief Executive Officer Mahmoud Al-Kooheji and Gulf Petrochemicals Industries Company (GPIC) President Dr. Abdulrahman Jawaheri also took part in the press conference.