Egyptian-British Business Forum Promotes Green Infrastructure Investments
Key Ideas
- Egypt hosts Egyptian-British Business Forum to promote infrastructure investments, with a focus on green projects like water management, renewable energy, and ICT.
- The forum facilitates meetings between Egyptian and British companies to discuss potential partnerships and attract investments in environment-friendly projects.
- UK investments in Egypt reached $2 billion in FY2022/2023, indicating a strong interest in the country's infrastructure sector.
- Egypt aims to attract investments in green hydrogen, green ammonia, and methanol enterprises in the SCzone, aligning with sustainability goals.
The General Authority for Investment and Free Zones (GAFI) in Egypt organized the Egyptian-British Business Forum for Investment in Infrastructure in Cairo, where 30 British firms and major Egyptian companies in the infrastructure sector participated. The forum aimed to foster partnerships and attract investments in environment-friendly projects such as water management, renewable energy, engineering, constructions, and ICT. Notably, UK investments in Egypt for FY2022/2023 amounted to $2 billion, indicating a strong economic relationship between the two countries. The European Bank for Reconstruction and Development (EBRD) also allocated €1.26 billion in funding for infrastructure projects in Egypt in 2023. Additionally, Egypt is keen on attracting investments in green hydrogen, green ammonia, and methanol enterprises in the SCzone, emphasizing a shift towards sustainable practices in the energy sector.