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Issue-36-5-9-2018.Pdf www.meobserver.org 2 Home 5 Sept. 2018 Egyptian-Vietnamese Business Forum Agrees on Increasing Economic Cooperation and Establishing Joint Ventures World Health Organization (WHO). In addition, Eng. Nassar proposed studying industrial inte- gration opportunities between both countries, particularly the fields of agricultural mechanization, ready-made garments, medicines, and leather industry in a manner that would allow benefiting from commercial agreements of both countries, thereby reviving Egyptian exports to the ASEAN region and Vietnamese exports to Africa. Eng. Nassar agreed with the Viet- namese side to exchange expertise in the field of SMEs support. Dr. Talaat, on his part, emphasized that the telecommunica- tion and information technology sector was among the promis- ing sectors that receive the state's concern and support for its vital role in motivating development processes, achieving pros- perous and creating competitive economy through attracting Hala El Said global investments and creating distinguished job opportuni- ties. He also gave an overview of the investment opportunities available in the sector, calling for establishing joint ventures in the software development services. He referred to Egypt's Egypt to invest EGP top global ranking for its competitive advantages as a result of experienced professional cadres that can develop and provide services in the Arabic language. Further, Dr. Talaat called on investors from both countries 275bn in Sinai until to cooperate in the field of engineering in order to increase ca- President Tran Dai Quang (R) and his Egyptian counterpart Abdel Fattah el-Sisi (Source: VNA) pacities of service providers in both countries, establish partner- ships in the field of integrated circuit design and technological In presence of 8 Egyptian and Vietnamese ministers, rep- ment implemented an inclusive economic reform program solutions, meet the needs of electronic manufacturers, obtain 2022 – Minister resentatives of the Egyptian private sector and 41 major Viet- including legislative, monetary, financial and structural meas- optimum benefit from Egypt's geographic location and cooper- namese companies, the Egyptian-Vietnamese Business Forum ures, asserting the continuity of the economic reform program ate in establishing giant data centers. (EVBF) has been held at MIIC premises. The Minister of In- to increase growth and improve the investment environment to The Egyptian government has allocated around EGP 275 vestment and International Cooperation Dr. Sahar Nasr and the render it more attractive. On his part, the Vietnamese Minister of Trade and Industry billion for investments in the Sinai Peninsula until 2022. Vietnamese Minister of Planning and Investment Mr. Nguyen The Egyptian government, noted Dr. Nasr, was implement- laid emphasis on his country's keenness on benefiting from the The government aims to build a 15,590-acre fish farm at Chi Dung inaugurated the forum, in presence of the Vietnam- ing various major projects that would place Egypt on the global historic convergence between leaders of both countries through the Suez Canal’s national project, in addition to setting up a ese Minister of Trade and Industry Mr. Tran Tuan, the Minister economic map, topped by the Suez Canal Axis, the Golden Tri- signing investment and commercial agreements that cover all natural lake at the canal and an industrial zone in Port Said, of Tourism Dr. Rania Al-Mashat, the Minister of Agriculture angle, the 1.5 Million Acre Project, and the New Administrative cooperation areas. planning minister Hala El Said highlighted in a statement. Mr. Tuan commended Egypt's economic reform experience and Land Reclamation Dr. Ezz El-Din Abu Steit, the Minister capital. This in addition to implementing several large power Moreover, almost 10 roads will be built over 1,339 kilo- and improvement of the investment environment, expecting of Health Dr. Hala Zayed, the Minister of Telecommunications generation projects such as the solar power project in Benban. metres at a combined cost of EGP 26.6 billion, as well as a that Egypt would be Vietnam's gate for investment and trade and Information Technology Dr. Amr Talaat, the Minister of The Minister ascertained that Egypt was one of the top coun- in Africa. number of the residential units, El said added. Trade and Industry Eng. Amr Nassar, Head of the Suez Canal tries in terms of investment returns and was characterized by The Vietnamese Minister of Planning and Investment stated The government also is looking to establish 15 hospitals Authority and the Suez Canal Economic Zone (SCZone) Adm. several investment advantages, besides being a gate to a large that EVBF was significant to familiarize Vietnamese investors and medical unitswith EGP 1.2 billion in investments, she Mohab Mamesh, Deputy Minister of Housing for Following up regional market in the Arab world and the African Continent. with the Egyptian economy, which would open up new hori- said, pointing out that nine hospitals were already constructed. of National Projects Eng. Khaled Abbas, Chairman of the Na- Further, she called on the Vietnamese side to identify in- zons for Vietnamese investments and help familiarize Egyp- She indicated that the government seeks to build and de- tional Company for Fishery & Aquaculture Maj. Gen. Hamdi vestment opportunities available in the Egyptian market to tians with the giant Vietnamese market. velop around 53 schools,universities, institutions, and educa- Badin, GAFI's CEO Mr. Mohsen Adel, Chairman of the Egyp- enter into new partnerships and enhance existing Vietnamese tional administrations at a value of EGP 5.5 billion. tian Exchange (EGX) Mr. Mohammed Farid and GAFI's Vice- investments. Mr. Dung announced his country's keenness on providing Egypt with its expertise in the field of fish farms so that Egypt Furthermore, the government is implementing five projects CEO Counselor Mohammed Abdel Wahab. On his part, Dr. Abu Steit reiterated the Egyptian- Vietnam- can benefit from leather in local industries and export croco- in the agriculture and land reclamation field, and nearly 54 Dr. Nasr emphasized the significance of Egyptian- Vietnam- ese agreement on cooperation and exchange of expertise in the dile meat to East Asian countries. Vietnamese businessmen an- projects for water supply, the minister said. ese economic relations which represent a successful and out- areas of fisheries management and agricultural machinery in- nounced their interest in investing in Egypt, particularly in the Sinai’s industrial zone for marble and glass industries is standing example of economic relations that achieve common dustry, besides facilitating procedures of exporting and import- field of textile, tourism, and gas extraction equipment industry. also being developed, she said, pointing out that the govern- interests, particularly after President el-Sisi's visit to Vietnam ing food industries and agricultural crops. ment is maintaining the 400,000-acre landreclamation project in September 2017 as the first Egyptian presidential visit to Vi- As for the Minister of Health, she welcomed cooperation A documentary on Egypt's achievements in the field of fish in the north of Sinai. etnam followed by the current visit. She indicated that EVBF with the Vietnamese side in several joint projects. She clari- farming during recent years was screened. SCZone's Vice- Chairman Vice-Adm. Abdel Kader Darwish presented invest- The government is also executing the integrated wastewa- aimed to complete convergence efforts exerted in the 5th ses- fied that Egypt has been a leading country in the production of ment opportunities in the development axis. At the end of the sion of the joint committee launched in the Vietnamese capital serums and vaccines for more than 115 years. She added that ter treatment projects in Bir al-Abed City, El Said remarked. forum, Dr. Nasr accompanies the Vietnamese delegation in a Hanoi in August 2017. the Ministry of Health was ready to train the Vietnamese tech- The Arab world's most populous nation is looking to invest tour at the Investor Service Center (ISC) where the delegation Moreover, Dr. Nasr mentioned that the Egyptian govern- nicians and the medical team at laboratories approved by the around EGP 2.98 billion in developing the governorates of was briefed on Egypt's investment map. North and South Sinai during fiscal year 2018/2019, which accounts for 3% of the country’s total investments. The North African country’s general budget will fund these investments by 86%, or EGP 2.553 billion, up 32% from FY17/18. In North Sinai, total targeted investments in the governo- Egypt mulls construction of EUR 2bn wind farms rate amount to EGP 1.619 billion during the current fiscal year. The Egyptian electricity ministry is in talks sa Spain to build a 120-megawatt wind plant, a Investments will cover the water, education, irrigation, and with a number of international companies to Saudi Arabian company to set up a 120-mega- transport fields, the minister highlighted, pointing out that the execute wind power projects with capacities of watt wind station, and a European entity to water desalination plants in Sinai are being upgraded. up to 1,800 megawatts at a cost of around EUR construct a 500-megawatt wind plant. El Said indicated that new roads and cities are being devel- 2 billion. The ministry is getting ready to offer other oped in North Sinai, pointing out to the establishment of New The anticipated projects will be implement- 460-megawatt projects in bids for international Rafah city and the completion of 936 residential units. ed under the Build, Own and Operate (BOO) and local firms. In South Sinai, total targeted investments in the governo- scheme, Almal News reported, citing official Egypt’s total generation of wind power hits rate amount to EGP 1.363 billion in FY18/19. sources. around 1,010 megawatts, about 460 megawatts Roads are being developed in the governorate, as well as water desalination plants are being established in Ras Sedr, El Investors will set up and finance the pro- were added after 2014.
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