Egyptian companies to invest $1b in Pakistan: report

October 24, 2019
Egyptian companies to invest $1b in Pakistan: report

File photo: AFP

Egyptian companies will invest $1 billion in Pakistan’s energy, infrastructure, halal food and tourism sectors, the Arab News reported Thursday.

According to the report, Egypt’s Ambassador to Pakistan Ahmed Fadel Yacoub said the investment would come from his country’s private sector. “Investment projects will begin in the next one year,” he was quoted as saying.

Yacoub said representatives of these Egyptian companies met with Prime Minister Imran Khan, members of his cabinet and state functionaries during their visits to Islamabad.

Zubair Gilani, the chairman of Pakistan’s Board of Investment, confirmed that Egyptian companies are interested in construction, livestock, halal food and agriculture sectors.

“We are ready to facilitate them,” Gilani said.

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