Latest news with #Egypt–USBusinessCouncil

Al-Ahram Weekly

Egypt convenes high-level meeting ahead of Egypt–US Investment Forum - Foreign Affairs

Ambassador Sameh Aboul-Enein, assistant foreign minister for American affairs, chaired a high-level national coordination meeting this week to finalize preparations for the upcoming Egypt–US Investment and Economic Forum, scheduled for 25–26 May in Cairo. The forum will showcase Egypt's strategic efforts to develop priority economic sectors, including energy, information technology, industry, and healthcare. It will also highlight recent financial services, banking, transportation, and logistics reforms. More than 50 leading US companies and senior Egyptian government officials are expected to participate. Organizers say the event will offer a platform for exploring new investment opportunities, particularly in key areas such as the Suez Canal Economic Zone, which aligns with Egypt's broader development and investment goals. The forum marks the culmination of three months of coordination led by the Ministry of Foreign Affairs, with participation from various national ministries and agencies, the Egyptian Embassy in Washington, the American and Egyptian Chambers of Commerce, and the Egypt–US Business Council. Focus sectors include food and agriculture, energy, healthcare, financial services, technology, aviation and space, tourism, and logistics. Major US corporations confirmed to attend include AstraZeneca, Bechtel Corporation, Google, Meta, Microsoft, and Apache Corporation. The initiative reflects Egypt's ongoing efforts to strengthen economic ties with the United States and attract further American investment to support the country's sustainable development agenda. According to the latest data from the US Embassy in Cairo, total bilateral trade in goods between the two countries reached $6.9 billion in 2023. Egypt remains the top destination for US foreign direct investment in Africa, attracting $13.7 billion last year. More than 1,000 US-affiliated companies are currently active in the Egyptian market. Follow us on: Facebook Instagram Whatsapp Short link: