Dr. Mahmoud Mohieldin, the Minister of Investment, met with the investment delegation of the Malaysian group, SCOMI. The delegation, headed by the CEO, Mr. Shah Hakim, included the company's working team.
SCOMI is one of Malaysia's main companies of transport, logistics services, oil and gas.
This meeting was part of the delegation's visit to Egypt aimed at discussing means of cooperation in the areas of transport and logistics services, as well as laying the foundation for an investment cooperation program to boost the company's investment volume and business in the Egyptian market.
The meeting was attended by the Vice chairperson of the General Authority for Investment (GAFI), Ms. Nevin El-Shafei, and a number of concerned officials from the Authority and the Ministry of Investment.
The meeting reviewed private investment opportunities in infrastructure and logistics associated with transportation, oil industries and the manufacturing of trains and buses.
Dr. Mohieldin listened to a number of proposals made by the Malaysian side that would promote economic cooperation between the two countries.
The CEO also went over the company's efforts to implement the sky train along with the benefits and socio-economic returns of this project.
SCOMI is a leading company in this field. It has implemented this project in Malaysia and India, as well as others in Dubai.
Its CEO said he was looking forward to collaborating with Egypt in this field given the country's economic importance in the region and the scope of the Egyptian market. He also stated that this was the fourth visit paid by a company's delegation to Egypt in less than two years, and that its goal was to set an ambitious investment program in this field.
Dr. Mohieldin stressed the importance of promoting and developing cooperation between Egypt and Malaysia. He said this was part of the technical and investment collaboration program started by the government of the Malaysia in order to benefit from the Malaysian techniques in economic development.
He said that both countries would benefit from these joint ventures in cooperation and coordination with the concerned ministries and authorities.