World Economy

Egypt Seeks India Investment

Egypt Seeks India InvestmentEgypt Seeks India Investment

Egypt is keen that India participate in the Suez Canal Economic Zone, a mega development project adjacent to the New Suez Canal, which will provide Indian investors close connectivity with both Europe and Africa, the country’s envoy to India said Wednesday.

Egypt has earmarked a 500 sq. km. area around the canal cities of Suez, Port Said and Ismailia to be transformed into a global business and logistics hub over the next 15 years. Egyptian envoy to India, Hatem Tageldin told reporters in New Delhi, NewsNow reported.

“For the Indian investors, the economic zone will provide an opportunity to be a part of all the services and business to be developed in the region,” he said.

 “The zone is ideally located. It falls at the center of the Mediterranean region of Africa and the Arab world, and it can also be considered a part of Asia because of the Sinai Peninsula,” he added.