Prime Minister Mostafa Madbouly Sunday and his Kuwaiti counterpart Sheikh Ahmed Abdullah al Ahmad al Sabah reviewed ways of boosting bilateral cooperation in all fields.
Egypt is looking forward to attracting further direct foreign investments, in light of prospective key investment opportunities in the Egyptian market, Madbouly said while co-chairing an official session of talks with the Kuwaiti prime minister at Bayan Palace.
The talks were attended by Kuwaiti Deputy Prime Minister and Minister of State for Cabinet Affairs Sharida al Maousherji, Head of the Prime Minister’s Office Abdulaziz al Dakhil, Minister of Foreign Affairs Abdullah Ali Al Yahya alongside a number of Kuwaiti statesmen and senior officials. Egyptian Ambassador to Kuwait Osama Shaltout was also present at the meeting.
The Kuwaiti prime minister reaffirmed the strength of bilateral relations between Egypt and Kuwait, commending efforts to stimulate Kuwaiti investments in Egypt as well as cooperation in all domains.
Abdullah al Ahmad al Sabah underscored the importance of joint action between the Egyptian and Kuwaiti governments towards boosting the trade exchange and elevating it to the level of the strong political relations between the two countries.
“We are looking forward to cooperating with Egypt in the pharmaceutical industries and food security domains,” Sabah added.
During the talks, Madbouly expressed appreciation for the warm reception of the Kuwaiti prime minister, saying that he is looking forward to enhancing economic relations between the two countries and elevating them to the level of the close ties between the political leaderships.
He invited Sabah to visit Egypt shortly and expounded efforts of the Egyptian government in the field of economic reform, creating a favorable investment climate and attracting further foreign direct investment.
The economic reform program gave a top priority to promoting the role of the private sector by setting a ceiling for public investments, with a view to to bringing private sector investments up to 65 percent of state’s total investments, Madbouly said.
The premier added that “the ratio of private sector investments has currently reached 60 percent.”
Meanwhile, Madbouly reviewed a number of promising investment opportunities in various sectors and the locations of these projects in a number of governorates across the country.
He reviewed the government’s efforts to facilitate procedures for investors through many facilitations, including the “golden license,” which is issued by the Cabinet to facilitate the procession of projects of top priority.
Madbouly shed light on the government’s efforts to cut down on external debt and improve macroeconomic indicators.
