The Minister of Investment and the US Ambassador discuss investment opportunities in the healthcare and pharmaceutical sectors
The Minister of Investment and Foreign Trade, Engineer Hassan Al-Khatib, confirmed that the health care and pharmaceutical sector represents one of the most important priority investment sectors for the state during the current stage, pointing out that the government aims to double the number of beds in hospitals from 142 thousand to 300 thousand beds while strengthening Private sector investments within the framework of the comprehensive health insurance system.
This came during his and the Ambassador of the United States of America in Cairo, Hero Mostafa, holding a virtual meeting with the participation of more than 60 Participants included more than 40 American companies operating in 27 states, where the investment potential in the Egyptian market and the investment opportunities available in the health care and pharmaceutical sectors were reviewed.
The Minister of Investment reviewed the Egyptian efforts to attract foreign investments, noting that the country During the past decade, it implemented a large number of infrastructure development projects, which contributed to creating a business climate to attract more local and foreign investments. He pointed out that Egypt’s strategic location and its trade agreements with a large number of markets make it a major hub for reaching… Markets in Africa, Europe, and the Middle East.
He explained that Egypt is working to create an attractive investment environment with a focus on economic policies that include exchange rate flexibility, tax reduction, and simplification of commercial procedures.
For its part, she stressed The Ambassador of the United States of America in Cairo emphasized the importance of the economic partnership between the two countries, noting that this meeting is a continuation of what was discussed with the Undersecretary of the US State Department for Economic and Commercial Affairs during the Joint Economic Committee last September.
She added The healthcare sector in Egypt provides promising investment opportunities worth between 30 and 40 billion dollars in the field of hospital infrastructure by 2025, expressing her hope that American companies will be a major partner in these projects.
In turn, Amy Holman indicated Acting Assistant Secretary of State for Economic and Commercial Affairs, pointed out the investment opportunities offered by Egypt thanks to its strategic location and regulatory reforms that improve the investment climate, pointing out that Egypt offers an exceptional opportunity for American companies to use it as an export base. To Europe and Africa thanks to free trade agreements and advanced infrastructure.
The meeting reviewed a number of questions about opportunities to establish private hospitals in Egypt, as the private sector owns about 30% of hospitals, and the establishment of private hospitals is permitted through partnerships or investments. Directly, the questions also included opportunities for expanding digital health services, as there is an increasing demand for digital health services, and American companies can participate in developing this sector in cooperation with the Ministry of Health and the private sector.
It also included questions about the possibilities of finding local partners. In the healthcare sector, where coordination can be made with the General Authority for Investment (GAFI) to identify suitable partners.
The meeting witnessed great interest from American companies, as many participants expressed their aspiration to explore investment opportunities in Egypt and benefit from sustainable growth. Which the Egyptian economy is witnessing.
Amy Holman, Acting Assistant Minister of Foreign Affairs for Economic and Commercial Affairs, Hossam Heiba, Chairman of the General Authority for Investment and Free Zones, and Minister Plenipotentiary for Trade Yahya Al-Wathiq Billah, Head of Commercial Representation, participated in the meeting, along with representatives of a number From the sides Egyptian government.
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