Moroccan businessmen called to invest in Egypt

Chairman of the Egyptian investment and free trade body, Brahim Faouzi, called on Moroccan business to enhance investments in his country.

In a statement to MAP, Faouzi said Egypt offers several investment opportunities mainly in the sectors of agribusiness, chemicals and maritime activities.

Moroccan investors can make greater benefits in Egypt than in Morocco or in other countries, he said recalling that Egypt has lately adopted a series of measures to attract Arab and foreign capital.

Some projects initiated in remote areas can benefit from tax exemptions for up to 20 years, Faouzi said, deploring the low volume of Moroccan investments in Egypt. These investments do not exceed $ 10 million, according to Egyptian sources.