From New Delhi, the Egyptian Foreign Minister held intensive meetings with major Indian companies to discuss cooperation on new projects between the two countries

• The possibility of studying reaching an agreement between the two countries to conclude equal deals to exchange Indian wheat and Egyptian fertilizers
• The Egyptian Foreign Minister reviews cooperation opportunities between the Egyptian Sovereign Fund and India's Oberoi in developing several buildings and assets
• The Egyptian Foreign Minister encourages the Indian chemical company TCI Sanmar to invest more in Egypt
• The regional president of the Indian Tata Group: We are interested in expanding our business in the Egyptian market

Egyptian Foreign Minister Dr. Badr Abdel Aty met today, Thursday, with Ashok Chatur Vaidy, Chairman of the UFLEX Flexible Packaging Group, at the start of his visit to New Delhi.

The Egyptian Foreign Minister traveled to the Indian capital, New Delhi, yesterday to hold the first round of the strategic dialogue between the two countries at the foreign ministerial level. He will also hold bilateral meetings with senior Indian government officials, as well as heads of major Indian companies, as part of strengthening bilateral relations and the strategic partnership between the two countries.

During the meeting, the Minister expressed Egypt's aspiration to attract more Indian investments in various industrial sectors, especially those needed by the Egyptian market. He noted that UFLEX is the second largest Indian company investing in Egypt, with a total investment volume of more than $350 million. He also intends to expand its investments in Egypt by establishing a factory in Ain Sokhna.

He also emphasized that the Egyptian government aims to create a more competitive and attractive investment climate for local and foreign investments, based on transparency, providing a supportive institutional and legislative environment, improving the business environment, simplifying procedures, and removing obstacles facing investors, while strengthening the role of the private sector as a key partner in development.

He also highlighted the Egyptian government's commitment to meeting all requests from foreign investors and facilitating any difficulties they may encounter, including facilitating visa issuances for officials of foreign companies investing in Egypt.

Meeting with the Chairman of the Indian Sun Group of Companies

The Egyptian Foreign Minister also met with Dr. Vikramjit Singh Sahni, Chairman of the Indian Sun Group of Companies, which manufactures fertilizers and fertilizer raw materials.

During the meeting, he expressed Egypt's interest in enhancing trade and investment cooperation with India in all sectors, particularly in food security, as well as the manufacturing and export of phosphates and fertilizers, which would positively reflect on industrial integration between the two countries.

He indicated the possibility of exploring the possibility of reaching an agreement between the two countries under which equal deals would be concluded to exchange Indian wheat and Egyptian fertilizers.

Meeting with the Vice President of the Oberoi Group of Companies

The Minister also met with Ajay Mehra, Vice President of the Oberoi Group of Hotels. Mehra expressed the importance of taking advantage of the distinguished investment opportunities offered by the Egyptian Sovereign Fund in sectors of interest to the Indian side, particularly real estate and hospitality.

The Minister reviewed opportunities for cooperation between the Egyptian Sovereign Fund and the Oberoi Group in developing several buildings and assets, particularly after the relocation of ministries and government agencies to Egypt's New Administrative Capital.

The Minister of Foreign Affairs also presented Egypt's vision for increasing the number of tourists coming to Egypt, encouraging the company to expand its operations in Egypt by establishing more hotels and restaurants in various cities across the country. This is in light of the trend to attract more Indian tourists, who are increasingly interested in visiting Egypt, whether for archaeological and historical sites or for entertainment services.

The Minister of Foreign Affairs discussed the company's plans to build a hotel near the Pyramids area, in addition to its management of several existing hotel projects in Cairo and Aswan.

Meeting with the Chairman of the Board of Directors of TCI Sanmar Group of Companies

The Egyptian Minister of Foreign Affairs met with P.S. Jayaraman, Chairman of the Board of Directors of TCI Sanmar Chemicals.

TCI Sanmar is the largest Indian company investing in Egypt, with an estimated investment of approximately $1.5 billion. The Egyptian Minister of Foreign Affairs encouraged the company to invest further in Egypt in light of the developments taking place in the Egyptian economy.

Meeting with the Director of the Hinduja Group of Companies

The Minister also met with Ambassador Ajit Kumar, Director of the Hinduja Group of Companies. Kumar emphasized that the Egyptian government is interested in cooperating with foreign companies to attract more investments and localize the vehicle industry of various types in Egypt, particularly cars and buses, both electric and fuel-powered.

The Minister also reviewed Egypt's numerous sources of electricity generation from renewable sources in large quantities and at low costs, as well as the high demand for electric cars and buses locally in Egypt, especially with the expansion of electric charging points in several governorates.

He also highlighted the facilities, incentives, and customs and tax exemptions offered for investment in Egypt's free industrial zones, particularly in the Suez Canal Economic Zone, which boasts a strong infrastructure and a prime geographical location. He also highlighted Egypt's links to a network of free trade agreements with several economic blocs, including Arab, African, European, and Latin American countries. This allows Egyptian-manufactured products to be exported to these countries duty-free.

Meeting with the Regional President of Tata Sons

The Egyptian Minister also met with Yogita Sharma, Regional President of Tata Sons, a car assembly company, and reviewed the distinguished investment opportunities the Egyptian economy offers foreign investors, as well as the legislative and financial incentives and multiple comparative advantages. He emphasized the importance Egypt places on the pivotal role of the private sector in development.

For her part, Ms. Sharma reviewed the company's activities in India and globally, explaining that the Tata Group is interested in expanding its business in the Egyptian market and is currently exploring new investment opportunities in various sectors in light of the economic reforms taking place in Egypt.

She explained that the group is confident in the great potential of the Egyptian economy and considers Egypt a strategic hub for launching into African and Arab markets, affirming the company's commitment to continuing and deepening cooperation with the Egyptian government.