The world’s largest-selling English-language daily newspaper sat down with Investment Minister Hassan El Khatib to find out why he thinks Indian companies should think about setting up shop in Egypt. El Khatib told the Times of India’s economic pages that Egypt’s recent infrastructure and logistics investment push along with cheap labor costs, attractive investment law, and connections to Europe make it a destination that Indian companies should put on their investment radar.

“I’m keen to explore [together] more into sectors like automotive. Your track record there is fascinating for automotive companies, sectors, because you’ve done it from scratch,” he told the paper. The minister also name checked the Indian pharma industry and green hydrogen as potential areas of fruitful cooperation.

DATA POINT- Indian companies have invested some USD 3.8 bn in Egypt, spread between 55 companies operating in the country across numerous sectors, according to an Investment Ministry statement.

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