A high-ranking delegation of Portuguese businessmen will be visiting Egypt in May to get firsthand information about investment opportunities here. 

The visit has been agreed during a meeting between officials of the Cairo Chamber of Commerce and Portuguese Ambassador here Madalena Fischer with the aim to boost economic ties between the two countries. 

Deputy chairman of the Chamber Aly Shoukry assured Fischer the investment climate in Egypt is good for Portuguese businessmen to make use of. 

He cited investment opportunities in the fields of renewable energy, agriculture, textile and appliances, as well as logistics projects on the Suez Canal Corridor. 

The Cairo Chamber of Commerce is making available all its potentials in the hands of Portuguese investors to attract them to do business in Egypt, Shoukry stressed. 

Tips about the local market will be provided and red-tape will be cut, whether in dealing with the public or private sector, he said.

Portuguese investors can very well benefit from agreements to which Egypt is party in order to tap other markets. 

The Egyptian government is acting to encourage investors to do business here through relaxed measures, especially where small and medium-sized enterprises (SMEs) are concerned, which Shoukry called the backbone of any economy. 

Fischer, for her part, said she was happy to visit the Cairo Chamber of Commerce, believing it to be one of the biggest economic entities in Egypt.

The upcoming visit of the Portuguese businessmen should help enhance economic relations with Cairo, the diplomat expected. 

Lisbon is very much interested in small and medium-sized enterprises on which its economy is mainly based, Fischer said. 

Source: MENA