Le­banon’s M1 Group will­ing to in­vest in Egypt

Group lead­ing in­vest­ment firm in ser­vices, in­dus­try, ICT sec­tors, says MIIC

The Daily News Egypt - - News -

The Le­banese in­vest­ment firm M1 Group an­nounced its in­ten­tion to in­vest in Egypt dur­ing a meet­ing gath­er­ing the Group’s Chair­per­son Na­jib Mikati with Egyp­tian Min­is­ter of In­vest­ment and In­ter­na­tional Co­op­er­a­tion (MIIC) Sa­har Nasr, dur­ing her visit to Le­banon, ac­cord­ing to Sun­day’s min­istry state­ment.

M1 Group’s world in­vest­ment is es­ti­mated at $3bn ranges between ser­vices, in­dus­try, in­for­ma­tion and com­mu­ni­ca­tion tech­nol­ogy (ICT) sec­tors, the state­ment added.

Dur­ing the meet­ing, Nasr re­viewed Egypt’s in­vest­ment op­por­tu­ni­ties in var­i­ous fields, par­tic­u­larly megapro­jects in dif­fer­ent gov­er­norates, af­firm­ing that her min­istry has of­fered all avail­able in­vest­ment op­por­tu­ni­ties on the coun­try’s on­line in­vest­ment map, which is reg­u­larly up­dated on the min­istry’s web­site.

The meet­ing was at­tended by Egypt’s am­bas­sador to Le­banon Nazih El-Na­gari, and Head of trade rep­re­sen­ta­tion of­fice at the Egyp­tian em­bassy in Le­banon Mon­aWahba,as well as other Le­banese busi­ness lead­ers.

Le­banese in­vest­ments in Egypt reached $670m through 1,645 Le­banese firms op­er­at­ing the fields of ser­vices, in­dus­try, con­struc­tion, oil, tourism, and agri­cul­ture, said Nasr.

For his Part,Mikati said that Egypt’s re­la­tions with Le­banon are unique, point­ing out that Egypt has a ma­jor in­vest­ment ad­van­tage rep­re­sented in its huge con­sumer mar­ket.

Over the past three days, Nasr met with high-level Le­banese of­fi­cials dur­ing her par­tic­i­pa­tion in the 4th Egyp­tian-Le­banese Busi­ness Fo­rum held in Beirut. She also met with Le­banese Prime Min­is­ter Saad Al-Hariri and Min­is­ter of Econ­omy and Trade Raed Khoury, among oth­ers.

Nasr re­viewed Egypt’s in­vest­ment op­por­tu­ni­ties in var­i­ous fields

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