Cairo hoping to attract Swiss investment

Egypt especially keen on expanding health sector with Swiss expertise amid global pandemic

A general view shows the River Nile with houses and farmland in Cairo, Egypt November 6, 2019.

A general view shows the River Nile with houses and farmland in Cairo, Egypt November 6, 2019.

REUTERS/Amr Abdallah Dalsh
CAIRO: Egypt is targeting Swiss investment — especially in healthcare, education, transportation and renewable energy — according to Hala Al-Saeed, Egyptian minister of planning and economic development.

The minister said that Swiss investment would localize international expertise in Egypt to achieve the country’s sustainable development goals set in its Vision 2030.

Al-Saeed added that Switzerland is an important investor, ranking 15th among the countries investing in Egypt, with the total value of the capital 433 Swiss companies have invested in the Egyptian market is $2.179 billion across a wide range of sectors, in addition to the establishment of many Swiss companies in Egypt, including Novartis, Nestlé, Holcim and ABB.

Switzerland was Egypt’s 10th largest trading partner in the 2018/2019 fiscal year, according to the Swiss Embassy in Egypt.

Al-Saeed said that there are many investment opportunities that the Swiss can benefit from, especially in areas that the Egyptian government gives priority, such as small and medium-sized enterprises, entrepreneurship, digital transformation, education, health, water management and renewable energy.

Al-Saeed pointed out that there is also a logistics sector, especially around the Suez Canal Economic Zone, which may be of particular interest to foreign investors interested in export-oriented industries, adding that vocational training and skills development are high priority areas.

Al-Saeed said that there was a need to increase investment in the health sector, especially amid the coronavirus pandemic, which is also an area of Swiss expertise, stressing that Egypt is ready to become a base for vaccine manufacturing and a gateway for their distribution across Africa.

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