Iran’s Islamic Revolutionary Guard Corps (IRGC) said it launched missile and drone strikes on four US military bases in Kuwait and Bahrain in response to recent American attacks on Iranian territory….reports Asian Lite News Desk
Egypt is planning to establish a dedicated investment body to coordinate its investments across Africa as part of efforts to expand the presence of Egyptian companies on the continent….reports Africa News Desk
Egypt is planning to establish a dedicated investment body to coordinate the country’s investments across Africa as it seeks to expand the presence of Egyptian companies and strengthen economic ties with the continent.
The proposal was discussed during a meeting between Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Badr Abdelatty and Minister of Investment and Foreign Trade Mohamed Farid, where the two ministers reviewed efforts to attract foreign direct investment and support Egyptian businesses operating in African markets.
According to Abdelatty, the proposed body would bring together government institutions, the banking sector and private companies to coordinate investment activities across Africa.
He also called for the creation of a comprehensive database of priority investment opportunities and projects across the continent to help Egyptian companies identify and pursue business prospects more effectively.
Abdelatty said the Foreign Ministry would continue engaging with African governments and institutions to help Egyptian firms overcome regulatory and administrative challenges while improving their access to regional markets.
He highlighted several initiatives aimed at supporting development across Africa, including a financing mechanism for feasibility studies and the implementation of infrastructure and development projects. He also referred to the establishment of the Export Credit Guarantee Company of Egypt, which provides risk-mitigation guarantees for Egyptian companies investing on the continent.
The minister said stronger cooperation between the government and the private sector would be essential to expanding Egypt’s economic presence in Africa in line with the country’s Vision 2030 development strategy.
Farid said the private sector remained a key driver of Egypt’s efforts to deepen economic ties with African countries, increase trade, attract joint investments and strengthen commercial partnerships.
He noted that Egyptian companies had built a strong reputation for delivering major development projects across Africa and said the government intended to build on that record through new mechanisms targeting priority sectors.
Farid added that the Ministry of Investment and Foreign Trade, through its affiliated agencies, was working to deepen trade and investment integration with African countries by leveraging existing trade agreements that provide preferential market access for Egyptian exports. The ministry is also providing support to help Egyptian companies expand their operations across the continent.
