The Minister of Investment, Dr. Mahmoud Mohieldin met the Cuban Minister for Foreign Investments and Economic Cooperation, Ms. Marta Lomas.
Dr. Mohieldin reviewed the ministry's activity and different fields of cooperation with Cuba. Egypt is willing to support investment cooperation by taking procedures to promote and protect investments between the two countries, and creating a mechanism for cooperation and coordination between the investment authorities in both countries, Dr. Mohieldin said. He explained the promising opportunities of cooperation in the field of pharmaceutical, food, metal and automotive industries.
Ms. Lomas said that Cuba is interested in strengthening its economic relations with Egypt. She cited her participation in the first meeting of the Egyptian-Cuban joint committee. In the light of recent developments in the Cuban economy, Cuba seeks to be open to the global economy and support different investment fields.
The two sides agreed on a cooperation program to be implemented within the coming months, including a protocol of cooperation to be signed between GAFI and its Cuban counterpart to exchange information on investment opportunities and support the role of joint missions, especially in the field of pharmaceutical industries. An agreement of investment protection and guarantee will be signed between the two countries.
The meeting was attended by Chairman of the General Authority for Investment and Free Zones (GAFI), Mr. Assem Ragab, and investment and international relations officials of the Ministry of Investment.
Source: Ministry of Investment PR
