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Egypt interested in India's construction sector

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Egypt interested in India's construction sector

Last updated: April 25 2007
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  • Egypt interested in India's construction sector

    Egypt is eager to strengthen its economic ties with India in a range of fields, especially in the construction sector.

    Speaking at a meeting organised by the Federation of Indian Exporter Organisation (FIEO) here Saturday, Egypt's Commercial Counsellor in India Mohammad Abdullah said that his country was looking to explore joint ventures with Indian partners in various fields, especially construction and real estate.

    Eva Saddik, a representative from the Investment and Free Zones office of Egypt who is currently leading a five-member delegation to India, talked about recent measures taken by her country to encourage foreign investments.

    'Even 100 percent equity is allowed in Free Zones for foreign investors baring some restrictions in some areas. Our government is also providing free land for big investments in the Upper Egyptian region,' she said.

    FIEO chairman (northern region) R.K. Dhawan pointed out that India can offer world-class healthcare to Egypt at low costs and called on Egypt's business community to collaborate with their Indian counterparts in this sector.

    He said India's services sector was on a high-growth track and Egypt could well be a partner in progress. Dhawan highlighted the strategic location of Egypt with close proximity to Europe, West Asia and Africa, and exhorted Indian businesses to explore opportunities of trade with Egypt.
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