Photo: Ministry of Investments and Foreign Trade of the Arab Republic of Egypt
On December 31, in Cairo, the Minister of Investments and Foreign Trade of the Arab Republic of Egypt, Mr. Hassan Al-Khatib, awarded 9 new golden licenses to foreign companies implementing investment projects of strategic importance for Egypt.
Among the awarded projects is that of the Bulgarian company Balkan Agricultural ltd., which will set up an operationalize a facility for the production of tomato paste, vegetable and fruit concentrates in the city of "6 October" near the Egyptian capital. The estimated investment is worth approximately 20 million Euros and is expected to provide some 80 jobs during the first phase of the project. 80% of the production will be destined for export.
The ceremony was attended by the president of the General Agency for Investments and Free Zones, Mr. Hossam Heiba, high-ranking representatives of the Ministry of Investment and Foreign Trade, representatives of the business community, as well as the Ambassador of the Republic of Bulgaria to Egypt.
In the last two years, several Bulgarian companies from various sectors managed to enter the Egyptian market, making successful investments and creating dozens of jobs. Successful examples in this regard are Bulgarian companies in the sectors of ITC, software engineering, outsourcing, etc. Bulgarian companies are interested in establishing production lines for production of textiles and assembling of electric cars.
The expansion of trade, economic and investment cooperation between Bulgaria an Egypt is also attested by the growing volume of bilateral trade. In the first eight months of 2024 trade between Bulgaria and Egypt reached a record level of 1.4 billion. USD. The Bulgarian exports to Egypt for the same period amounted to 546.56 billion USD. Egypt exported a total of 868.53 USD to Bulgaria. Leading products in Bulgarian exports to Egypt are oil products, wheat, refined copper, carbonates, sunflower and saffron oils. Egyptian exports to Bulgaria consist mainly of crude petroleum oils, nitrogen fertilizers, iron, ammonia etc.