The Alexandria Chamber of Commerce will on Sunday launch eight new projects financed by the European Union worth more than LE260 million ($37.7 million).
Ahmed al-Wakil, the head of the Federation of Egyptian Chambers of Commerce and vice president of the Association of the Mediterranean Chambers of Commerce and Industry, said the projects will be launched in the presence of the ministers of international cooperation, investment, industry, local development, education, civil aviation, planning, tourism, electricity and scientific research. The Governor of Alexandria, the Ambassador of the EU and the ambassadors of the 28 members states of the EU will also attend the launch.
Mohamed al-Sewedy, the head of the Federation of Egyptian Industries, said these projects seek to support and modernise food, textile and tourism industries as well as the fields of solar energy, environment and schools. They will also help exchange experiences and create partnerships with Mediterranean countries as well as attract investments and modern technology and develop exports.
Nader Riad, the head of the Confederation of Egyptian European Business Associations, said the projects involve several activities in Egypt and EU countries, including participation in international exhibitions and conferences and joint manufacturing and cooperation to help Egypt enter regional markets as well as several other activities that seek to raise the competitiveness of the Egyptian product and its compliance to international specifications to be marketable on EU markets.
Elhamy al-Zayyat, the head of the Egyptian Federation of Tourism Chambers, said a campaign will also be launched by the Tourism Ministry and the federation to help restore normal hotel occupancy rates.
Egypt has received around 6 billion euros ($7.95 billion) from the European Investment Bank, equivalent to 25 percent of the total funding offered to Mediterranean countries.
Source: Al Masry Al Youm