Insider Business Investment of Cypriot-owned businesses in Egypt reaches 400 million dollars

Investment of Cypriot-owned businesses in Egypt reaches 400 million dollars

The presence of companies linked to Cypriot interests in Egypt is deemed as particularly important, since, according to reports in the local financial press, their investments are said to amount to 400 mln US dollars. These investments originate from 224 companies linked to Cypriot interests, which are active in Egypt.

A relevant reference is also made by the Office of Economic and Commercial Affairs of the Greek Embassy in Cairo, in its newsletter, following the recent official visit of the President of the Cyprus House of Representatives, Demetris Syllouris, in the Egyptian capital. Syllouris, who was accompanied by Michalis Michael, the Chairman of the Board of Directors of the Cyprus Investment Promotion Agency “Invest Cyprus” met with Sahar Nasr, the Egyptian Minister of Investment and International Cooperation.

Egyptian reports note Syllouris’ statement that Cyprus encourages its business circles to invest in Egypt, and that bilateral cooperation will be intensified further, in order to carry out mutual investment projects.

(Cyprus News Agency)

Top Stories

162 new cases, five deaths announced on Monday

The Health Ministry announced the death of five persons due to COVID-19. This raises the death toll from the virus in Cyprus to 175,...

Where to get antigen rapid tests on Tuesday

The Health Ministry announced the following antigen rapid test sites for Tuesday, 19 January 2021: LIMASSOL Apostle Loucas Church, Agios Athanasios 08:30-16:30 Agios Stylianos Church, Linopetra 08:30-16:30 Cultural...

Searches for 70 year old woman missing at sea suspended due to bad weather

Searches to find a 70 year old woman missing off the Phiikoudes beach in Larnaca have been suspended due to extremely bad weather conditions...

Tourist arrivals plunge by 84% in 2020 in one of Cyprus’ worst tourist seasons due to Covid

Tourist arrivals in Cyprus reached a mere 631,609 plunging by 84.1% year on year in one of the worst ever season for Cyprus’ tourist...

Germany demands release of Kremlin critic Navalny

Germany on Monday demanded the release of Kremlin critic Alexei Navalny, detained on Sunday on his return to Russia, and said it would discuss...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...