CAIRO: “The British are coming in strength and we want to set an example to the world. Britain’s commitment is not just about three days in Sharm el-Sheikh but about having a permanent presence at the heart of Egypt’s economy,” said British Ambassador to Egypt John Casson, who is participating in his nation’s delegation to the Egypt Economic Development Conference.
He added in a Friday statement that British companies “are not just making profits, but are creating jobs, energy supplies and infrastructure to drive Egypt’s future.”
Foreign Secretary Philip Hammond is leading the British delegation headed to Sharm el-Sheikh, dubbed the “Egypt the Future” conference.
The delegation also includes representatives of leading British businesses such as Bob Dudley, Chief Executive Officer of BP and Sami Iskander, Chief Operating Officer of BG.
Casson noted that 50% of all foreign direct investment in Egypt comes from Britain, and that 75 British companies had indicated they would participate in the conference.
Investment Minsiter Ashraf Salman told Reuters Friday morning he expected a total of between $15 billion and $20 billion in investments to be pledged during the conference.