Business

Egyptian tycoon keen to invest in Pakistan

Businessmen looking to invest in other sectors too, says CEO of real estate company

Our Correspondent December 20, 2022

PHOTO: FILE

ISLAMABAD:

In a meeting with Federal Minister for Finance and Revenue Ishaq Dar on Monday, Chief Executive Officer (CEO) of Egyptian company, Eighteen Elite Real-Estate, Tarek Hamdy expressed a keen desire to invest in Pakistan.

Briefing the finance minister on the company’s profile, a subsidiary investment project of prominent Egyptian businessman Naguib Sawiris, and his future investment plans for Pakistan, he said, “Egyptian investors have long-standing business relations with Pakistan in the fields of telecommunications and real-estate, and are keen to deepen these relations.”

Hamdy added that Egyptian businessmen were looking to invest in other sectors in Pakistan too. Appreciating the contribution of Egyptian businessmen, Dar said the government welcomes foreign direct investment and affirmed the government’s commitment to providing a conducive environment for foreign investors.

Published in The Express Tribune, December 20^th, 2022.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

COMMENTS (1)

test | 1 year ago | Reply What Your country secured an IMF bailout worth 3 billion dollars and you are keen on investing in Pakistan To be fair enough I would say that you need to invest in Egypt which is your country first which is facing an economic crisis than some other country like Pakistan which is mine. And don t trust the elite class of Pakistan with your money because our elite class has not spared the money of my beloved motherland Pakistan then how would they take care of your money But if you insist on investing I guess I should say thank you but how many tens of billions of dollars would you like to invest in Pakistan And before that I would like to add that I personally hate real estate or assembly plants businesses and any business which is in import business. I hate importing anything at all so much. I want Pakistan to manufacture every single thing locally yeah it is true that raw materials can be a problem but not a big problem that our businessmen and politicians launder money through that import line of raw materials and our forex wipe out. You got it The elite class of Pakistan has not been sincere with their own country and how will be they sincere with your investment and with you May be they have laundered the black money to an Egyptian business and then that business is investing back in Pakistan. May be not. But I would say I want to kill murder the elite class of Pakistan along with their families without any sympathy and add all of their wealth to the state assets of Pakistan. Believe me if you can.

Replying to X