Egypt Aspires to Emulate Turkish OSTIM Model
Ankara, Turkey | November 18, 2009 by
The Egyptian delegation discussed various investment opportunities in Egypt to the ASO and OSTIM
The Assistant of Minister of Investment of Egypt Yaser El Kadi, Ambassador of Egypt Alaa Eldin El Hadidi, Undersecretary of Investment of Egypt Sherif Atifa and Ahmet Elgohari, Head of Project Development of Southwest Suez Canal Tarek Hashem, and top-level officials recently held a meeting in Ankara.
The Egyptian delegation discussed various investment opportunities in Egypt to the Industrialists Chamber of Ankara (ASO). Meanwhile, during the meeting with OSTIM, the delegation also expressed their wish to set up a similar organized industrialist area like OSTIM in Egypt.
El Kadi said that Turkish investors in Egypt are content with their investment, and the total value of 274 Turkish companies’ investment in Egypt is recorded at 1 billion USD.
We look forward to new investors
El Kadi, who explained various investment opportunities in Egypt, especially in construction, food & beverages, textile, metal industry and automotive sectors said that his country is looking forward to welcome new investors. “We have attractive tax exemption policies for investors. We also have greatly reduced red tape process to very minimum. With our recent reform, you can set up a company within 24 hours. We would like to set up a similar industry area like OSTIM. We shall be waiting for support from our fellow Turkish industrialist and businessmen,” said El Kadi.
Egypt Ambassador to Turkey, El Hadidi, together with the delegation said that they were very impressed by the visit to OSTIM, especially by the production areas and the corporate structure of OSTIM.
Source: OSTIM
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