• 15:08
  • Thursday ,12 March 2015

20 Swiss industries to attend economic summit: Ambassador


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Thursday ,12 March 2015

20 Swiss industries to attend economic summit: Ambassador

Up to 20 Swiss companies will attend the Egypt Economic Development Conference, Swiss Ambassador to Egypt Markus Leitner told Youm7 Tuesday via email.

“Switzerland welcomes the positive economic reform steps announced over the past months and weeks, including the passing of the new investment law. We are confident that economic growth – through foreign and domestic investments – will be increased if and when these measures are fully implemented,” he said.
The long-awaited conference, planned since the election of President Abdel Fatah al-Sisi in June 2014, will begin Friday in the Red Sea resort town of Sharm el-Sheikh. The Foreign Ministry announced last week that 80 countries have confirmed their attendance.
Leitner said he expected countries to be “interested in the investment opportunities deriving from the Suez Canal Development such as in the area of logistics, machinery and energy sectors,” adding that Swiss companies in Egypt were also interested in financial services and the food industry.
Swiss companies ABB, Schindler, Novartis, UBS and Credit Suisse have confirmed their participation, he said.
In the days leading up to the conference, a series of attacks have taken place across Cairo, with small explosions taking place every day. The government has announced increased security measures across the nation in preparation for the summit.