With over 1,500 companies operating in various sectors, British investments in Egypt reached $20 billion, UK Ambassador to Egypt Gareth Bailey has said.
Bailey said this on Sunday while speaking to pressmen on the sidelines of a conference organised by the International Cooperation Ministry to launch the World Bank Group’s Country Partnership Framework (CPF) with Egypt for FY2023-2027,
The senior British envoy added the strategic location of the Suez Canal, green hydrogen potential, as well as wind energy and solar energy productions, offers promising opportunities for British companies to propel investments.
Speaking on the recent devaluation of the Egyptian pound and inflation on British investments, Bailey admonished the Egyptian government to move forward with its IMF-backed economic reform program by setting clear economic policies and laws that enable them to make profits without worrying about inflation and exchange rate.