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Hanan Mohamed – Egypt Today
Egypt and Switzerland signed three memoranda of understating (MoU) to strengthen bilateral investments, improve higher education, and develop the structure of the public sector business.
This is achieved at the Egyptian-Swiss Investment Forum, organized by the General Authority for Investment and Free Zones in cooperation with the Swiss Embassy in Cairo.
“Swiss investments in Egypt increased with the implementation of the economic reform program”, CEO of General Authority for Investment and Free Zones (GAFI), Mohamed Abdel Wahab, said in a statement.
Swiss Minister of Economic Affairs, Education and Scientific Research, Guy Parmelin, explained that the volume of bilateral trade between the two countries amounted to about $1.3 billion in 2019, according to Swiss statistics. “which means that Egypt is the largest market for Swiss exports in the African continent”, he said.
Parmelin, accompanied by a large Swiss delegation composed of Members of Parliament, government officials and numerous business leaders, is currently visiting Egypt on an economic mission to Cairo, from 2 to 5 February.
At the end of the forum, Abdel Wahab signed an MoU with Head of the Swiss International Corporation Simon Weiss Fideli to cooperate in the field of enhancing bilateral investments, promoting investment and supporting small and medium size companies.
Chairman of the Board of Directors of the Holding Company for Cotton, Spinning and Weaving, Ahmed Mustafa, signed a cooperation agreement with Norbert Klapper, President of Ritter International, as part of the program to develop the textile sector.
Chairman of Badr University in Cairo (BUC) Hassan el-Kalla signed a declaration of intent with Heinrich Meister, President of Business and Hotel Management School in Lucerne, to accredit a 3-year BA program in Hotel and Tourism Management and a one-year professional diploma by the Swiss University at BUC; and to providing training programs to develop the tourism sector in Egypt.
