CAIRO, April 24 (MENA) - President Abdel Fattah El Sisi urged on Thursday Kuwaiti investors to explore available investment opportunities in Egypt and to benefit from incentives and facilities offered by the Egyptian State in this regard.

He also called on the Kuwaiti investors to develop industrial cooperation through building industrial partnerships between Egyptian and Kuwaiti companies and focus more on sectors of high value added.

Sisi made the remarks during a meeting with a Kuwaiti investment delegation led by head of the Egyptian-Kuwaiti Cooperation Council Mohamed Saqer in the presence of Prime Minister Mostafa Madbouli, Minister of Foreign affairs, Emigration and Egyptian Expatriates Badr Abdelatty and Investment and Foreign Trade Minister Hassan el Khattib.

Presidential Spokesman Mohamed el Shennawi said the President welcomed the Kuwaiti delegation, expressing pride in fraternal relations binding him with Emir Sheikh Meshaal al Ahmad al Jaber al Sabah and the strong sisterly relations between Egypt and Kuwait at both the official and popular levels.

Sisi stressed that challenges to global economy and the current regional and international developments require stepping up cooperation among sisterly Arab countries.

The spokesman said President Sisi highlighted the pivotal role of businessmen in pushing forward cooperation between the two countries in a way that better benefits the interests of Egypt and Kuwait, stimulates real economic growth and provides job opportunities for the generations to come.

Sisi reiterated the Egyptian government's keenness on boosting cooperation with Kuwaiti companies and increasing Kuwaiti investments in Egypt.

He also expressed Egypt's readiness to provide all forms of support to develop partnerships with Kuwait's private sector.

The Kuwaiti delegation watched a documentary during the visit on the current and the under-construction projects in Egypt. The delegation lauded the remarkable development Egypt is now witnessing in the infrastructure domain.

The meeting tackled available investment opportunities in many promising sectors in Egypt with the Kuwaiti delegation lauding the investment-magnet atmosphere in Egypt.

The delegation underlined the importance of building on the strategic partnership between Egypt and Kuwait, noting that the volume of Kuwaiti investments in Egypt stands at 20 billion dollars carried out by more than 1,000 Kuwaiti companies operating in the Egyptian market.

They also noted that more than 25 percent of the projects of the Kuwaiti Development Fund are being carried out in Egypt.

The delegation hoped that Kuwait would play an effective role in the Egyptian-Gulf Investment Forum to be hosted by Cairo this year. (MENA)
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