CYPRUS: Investment of Cypriot-owned businesses in Egypt reaches USD 400 mln

Companies linked to Cypriot interests operating in Egypt is deemed significant, since, according to reports, their investments amount to $400 mln.

These investments originate from 224 companies linked to Cypriot interests, which are active in Egypt.

Cyprus House speaker Demetris Syllouris recently headed a delegation to the Egyptian capital to boost business ties between the two countries.

During his visit Syllouris, accompanied by Michalis Michael, Chairman of Invest Cyprus, met Sahar Nasr, the Egyptian Minister of Investment and International Cooperation.

He said that Cyprus encourages its business circles to invest in Egypt, and that bilateral cooperation will be intensified further, in order to carry out mutual investment projects.

Source: The Financial Mirror