Mohamed Farid, Minister of Investment and Foreign Trade, said Egypt is actively working to enable Czech pension funds to access investment opportunities in the local market, as part of broader efforts to deepen economic cooperation with the Czech Republic.
His remarks came during an expanded meeting with Ivan Jukl, Czech Ambassador to Cairo, and Ondřej Kočí, the embassy’s commercial counsellor, where discussions focused on advancing investment ties, enhancing trade partnership, and localising advanced technology.
Farid said the talks reflect the depth of the strategic relationship between Cairo and Prague, stressing that Egypt’s current approach prioritises attracting “qualitative investments” that move beyond traditional supply models towards the localisation of advanced technologies.
“Through these partnerships, we aim to deepen local manufacturing and improve the efficient utilisation of mineral resources, particularly in Upper Egypt, Sinai and the Eastern Desert,” Farid said, noting the potential use of advanced drone technologies developed by Czech companies in geological surveying and analysis.
He added that the government is working to provide a comprehensive set of incentives to attract Czech investments, including pension funds, and is preparing for the upcoming joint economic committee meeting in Prague to translate ongoing discussions into concrete, productive projects.
The minister said these efforts are aligned with Egypt’s strategy to position itself as a regional hub for industry and exports.
For his part, Jukl said the goal of bilateral cooperation extends beyond technology transfer to include the localisation of manufacturing, helping build a sustainable technological base and develop skilled Egyptian human capital.
He highlighted successful Czech investments in Egypt, including a major $100m project in Sadat City, describing it as a model for export-oriented manufacturing. Currently, around 60% of the project’s output is directed to external markets, with plans to increase this share to 100% in future phases.
Jukl also expressed his intention to organise a high-level visit by a delegation of Czech business leaders to further strengthen economic ties and conclude tangible cooperation agreements.
The discussions also covered mechanisms to attract Czech venture capital and major pension funds, particularly the BPI Fund, to the Egyptian market. Farid reaffirmed the government’s commitment to providing all necessary facilities to support their entry.
The meeting concluded with an agreement to launch an intensive round of discussions by a joint technical working group to translate these understandings into specific projects ahead of the upcoming joint economic committee meeting in Prague, which is expected to see broad participation from leading institutions and companies from both countries.
Daily News Egypt
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