Egypt keen to invest in country's industrial sector

Egypt has expressed keen interest in further strengthening economic and trade relations with Bangladesh and expanding cooperation in industrial and investment sectors.

Egyptian Ambassador to Bangladesh Omar Mohie Eldin Ahmed Fahmy conveyed the interest when he paid a courtesy call on Industries, Commerce, Textiles and Jute Minister Khandakar Abdul Muktadir at the Ministry of Industries on Monday, said a press release.

During the meeting, the ambassador said Egypt is interested in deepening economic and trade ties with Bangladesh, particularly through increased cooperation in industries and investment.

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He emphasised enhancing interactions between business people and industrial entrepreneurs of the two countries, saying stronger business-to-business contacts could help expand bilateral trade and investment.

The ambassador assured that Egypt would continue to extend necessary cooperation to facilitate greater economic engagement between the two countries.

The minister welcomed Egypt's interest in investing in Bangladesh and called for greater bilateral cooperation in industries, trade and investment.

He said Bangladesh offers opportunities for foreign investment as the country is advancing on the path of industrialisation and economic development.

Muktadir urged Egyptian businesspeople and industrial entrepreneurs to invest in Bangladesh, saying investment from Egypt would benefit both countries by creating new business opportunities, expanding industries and generating employment.

"There are opportunities for Bangladesh and Egypt to work together in various sectors, including leather, light engineering, pharmaceuticals, jute and jute products," he said.

The minister also stressed the importance of exchanging technology, skills and experience and undertaking joint ventures in promising industrial sectors.

He said the government is taking various measures to ensure an investment-friendly environment in Bangladesh and facilitate foreign investment.

Both sides expressed optimism that Egypt's growing interest in investment and enhanced business contacts would help further expand industrial, trade and investment cooperation between Bangladesh and Egypt.