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  • Egypt moving its economy (17 Ağustos 2015)

     2nd Suez Canal

     Egyptian Government plans to increase channel revenues 3 times with their Project of 2nd Suez Canal. In the framework of the Project, six new tunnels will be built one of which will be a railway tunnel. 17 companies will participate in the project. It plans to create more than 2 million new jobs in the new residential areas, hotels and business facilities to be set up around the new canal. The Suez Canal, which provides 5 billion income per year, is one of the most important income sources of the national economy. The Channel, which connects the Red Sea with the Mediterranean, is providing the international maritime transport between the Indian Ocean and the North Atlantic.

     20 Billion Housing Project from the Egyptian Ministry of Settlement

     Egyptian Ministry of Settlement is preparing a 150-billion-dollar housing Project to be offered to investors in the Egyptian Economic Summit to be held in March. Both investors and fi nancial institutions are expected to show interest to the “October Oasis” to be built on a land of 10 thousand decares in the 6th October Region. The largest project ever to be carried out by the Ministry, "the October Oasis" will host housing, business centres, commercial areas and social facilities. The government has prepared a new law to attract foreign investors to the country which will be completed in early March. As a result, more foreign investment will be drawn to the country. Egypt is experiencing positive developments in the construction sector compared to the previous months. In early February, the "New City Communities Agency" went to tender in different parts of the country for construction projects.

     2.8 Billion Technology Park in Egypt

    Egyptian Government announced that it planned construction of 5 modern technology parks with an estimated value of $ 2.8 Billion across the country to increase revenue. Then, it is going to combine licenses of fi xed lines and mobile telecom lines. The Ministry of Communications and Information Technology said that the submission of tenders for projects was done, technology parks projects will be presented to investors by the end of 2015 and the project is expected to be completed by 2020.

    Egypt and Turkey to Make New Trade Agreements

     Turkey’s Industrialist Businessmen and Businesswomen’s Confederation Chairman Nezaket Emine Atasoy came together with Ambassador of the Arab Republic of Egypt, Hussein El Saharty in the Embassy in Ankara. During the meeting, it was announced that trade agreements would be signed between the two countries. Turkey’s Industrialist Businessmen and Businesswomen’s Confederation Chairman Nezaket Emine Atasoy and Ambassador Hussein El Saharty addressed the commercial, economic and cultural relations between the Egyptian Republic and Republic of Turkey. "

    The relationship between the Egyptian people and the Turkish people are based on thousands of years of history. Turkish people and Egyptian people are friends and allies since then. As Turkey’s Industrialist Businessmen and Businesswomen’s Confederation, we want the improvement of the relationship between the Arab Republic of Egypt and Republic of Turkey. Turkey has trade agreements with Egypt based on centuries. As Turkey’s Industrialist Businessmen and Businesswomen’s Confederation, we shall make new commercial treaties with Egypt," said Mrs. Atasoy. Hussein El Saharty stated the following in his speech: "

    First of all, thank you for the work you have done for the benefi t of the Middle Eastern states, Arab states and Palestinian people. The treaties you have made provide a major contribution to the development of the states and nations. Investments to be made in Egypt by member businessmen, businesswomen and investors of Turkey’s Industrialist Businessmen and Businesswomen’s Confederation in your presidency will make us very happy. Investment doors of the Arab Republic of Egypt are open to you. "

     Also referring to the Egypt-Turkey relations during the visit, Egyptian Ambassador Hussein El Saharty said "The brotherhood of the Egyptian people and the Turkish people is based on thousands of years of friendship. The Egyptian people are always near the Turkish people and will continue to be with, "he said.

    During talks, the decision was taken to make trade agreements between the Arab Republic of Egypt and Republic of Turkey on issues such as construction, textile, tourism, food, health, education, IT, farming, technology, import and export.

    Egyptian Ministers’ Favour for Turkish Companies The Egyptian Ministers of Energy and Industry visited Turkish companies in the Electricity and Energy Fair in Cairo last December. They were closely concerned with the Turkish companies. Egyptian Ministers briefl y chatted with Turkish companies and ''We will continue to buy quality and cheap products from Turkey. Our relations with the Turkish people are unbreakable because of political issues" they said. 

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