ISLAMABAD – The ambassador of Egypt Fadel Yacoub said that an Egyptiancompany wants to invest $500 million in the sector of energy in Pakistan.The company is designated as EL Sewedy Electric and is considered as one ofthe biggest to have invested in the economy of Pakistan.
According to the ambassador, both countries are loaded with the potentialfor trade and investment. The envoy said: “We appreciate businessassociation in Pakistan, especially the chamber of commerce, to organizebusiness trips to Egypt. The Rawalpindi chamber of commerce already intendsto send a delegation to Egypt during the next few weeks.”
Both countries have excellent bilateral ties and each of them is gainingstrength with every passing day. Both Egypt and Pakistan have cooperated indiverse fields the delegation from Egypt have visited Pakistan and lookedfor investment opportunities throughout the country.
The Egyptian ambassador further said: “We received two very crucialbusiness delegations from Egypt recently which included a representativefrom different big companies. An Egyptian Billionaire Naguib Sawiris hasalready invested in the Pakistan economy and is on the quest to find newways of investment with the relevant authorities.”
The Egyptian ambassador further said that Pakistanis are welcome in Egyptat any time in the country. Whether it is about business, study or tourismin general, Egypt wants Pakistanis to visit their culturally enrich land.
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He further told the media that he is extremely proud of his country forhandling foreigners form different countries. In 2019, Pakistan aloneissued 4000 visas to Pakistani citizens who wished to visit Egypt for oneor the other way.
“Last year we issued over 4000 visas to ordinary Pakistan, most of them fortourism. The number excludes official visas or travel permits issued todiplomats and members of various delegations.”
