Latest news with #SamehAboul-Enein
Al-Ahram Weekly
21-05-2025
- Business
- 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:
Al-Ahram Weekly
09-04-2025
- Business
- Al-Ahram Weekly
Egypt, Canada commit to boosting trade, investment ties during Ottawa consultations - Foreign Affairs
Egypt and Canada have affirmed their shared commitment to advancing promising opportunities for cooperation, focusing on boosting trade exchange and enhancing investment partnerships. This occurred during the bilateral political consultations held at the Canadian Ministry of Foreign Affairs in Ottawa on Tuesday. According to a statement by the Egyptian Ministry of Foreign Affairs, Assistant Foreign Minister for American Affairs Ambassador Sameh Aboul-Enein led the talks. Aboul-Enein headed a high-level Egyptian delegation to Toronto, Montreal, and Ottawa as part of a broader diplomatic and economic outreach effort. During the Tuesday session, Egypt and Canada discussed a range of issues, including economic, development, cultural, and consular affairs, aimed at strengthening their long-standing relationship. The meeting was particularly significant as both countries recently celebrated the 70th anniversary of their diplomatic ties. The discussions highlighted Egypt's favorable economic climate and its government's ongoing reform agenda, which has gained international recognition for its structural measures. Moreover, the delegation presented a comprehensive overview of investment incentives and facilitation measures Egypt implemented to attract foreign capital and increase Egyptian exports to the Canadian market. "Egypt aims to boost Canadian investments by 10 percent, targeting $2.2 billion by the end of 2025, up from the current $2 billion," Moataz Raslan, chairman of Canada-Egypt Business Council (CEBC), told Al Arabiya Business in March. Raslan explained that several Canadian companies are exploring expansion opportunities in Egypt, with investments primarily focused on key sectors such as petrochemicals, services, and consultation. Furthermore, the two sides discussed pressing international and regional challenges and Canada's priorities during its 2025 G7 presidency. They also agreed to maintain close coordination and political dialogue in the future. The Egyptian delegation's visit to Canada includes various meetings and activities, such as participating in economic events to foster cooperation in trade and investment and promote Egypt's private sector. The visit also features engagements with prominent Canadian research centres and academic institutions, including the University of Ottawa and Carleton University. Additionally, the delegation will meet with key Canadian trade and investment bodies and hold discussions with members of the Ontario Provincial Parliament and the Canadian Senate in Ottawa. The delegation includes senior members of the Egyptian parliament and business leaders from the CEBC. Among the senior officials accompanying the delegation are geologist Ahmed Fath El-Bab, acting director general of exploration at the Ministry of Petroleum and Mineral Resources, and Mohamed Youssef, advisor to the chairman of the General Authority for Investment and Free Zones. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
21-02-2025
- Business
- Al-Ahram Weekly
Egypt, US officials finalize arrangements for Investment & Economic Forum - Foreign Affairs
Assistant Foreign Minister for US Affairs Ambassador Sameh Aboul-Enein received a delegation from the US Chamber of Commerce (USCC) on Thursday to discuss final arrangements for the upcoming Egypt-US Investment and Economic Forum. According to the Egyptian foreign ministry, the delegation was led by Anna Burris, Director of the US Chamber of Commerce for the Middle East, and Sylvia Menassa, CEO of the American Chamber of Commerce in Egypt. During the meeting, Aboul-Enein reviewed Egypt-US relations, referencing key outcomes of the second meeting of the Joint Economic Commission. He also touched on the Egypt-US strategic dialogue, which established a working group for cultural and educational cooperation and cooperation in tourism and antiquities. For her part, Burris praised the ongoing progress in the Egyptian economy, highlighting the USCC and the American private sector's strong interest in exploring investment opportunities in Egypt. Furthermore, Aboul-Enein and the delegation discussed enhancing trade and investment ties between Egypt and the US through attracting more significant investments from major US companies in Egypt. The meeting is part of a series of coordination discussions held by Aboul-Enein as per the directives of the Egyptian Minister of Foreign Affairs, Badr Abdelatty. Short link:
