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British investments in Egypt hit $47.4bn – Minister

British investments in Egypt hit $47.4bn – Minister
Britain is currently focusing on investing in electric vehicles

Cairo – Mubasher: A total of 1,816 British firms are operating in Egypt with total investments of $47.4 billion, the Egyptian investment and international cooperation minister Sahar Nasr said in a statement on Thursday.

Nasr discussed with the UK’s minister of state for international development and the Middle East, Andrew Murrison, the means to promote the Arab-British partnership programme which allocates about GBP 6 million per year for Egyptian-British projects.

The investment minister stressed the importance of mutual cooperation between the two countries in the fields of education, vocational training, small- and medium-sized enterprises (SMEs), entrepreneurship, and transportation, according to the statement.

As for the transportation sector, Murrison noted that Britain is currently focusing on investing in electric vehicles.