Egyptian-Kuwaiti council welcomes Egypt's economic steps to encourage investments

Kuwait's side to the Egyptian-Kuwaiti Cooperation Council Mohamed Jassem al Saqr has welcomed economic decisions taken recently by the Egyptian government.

In statements after the council meeting and published by Kuwaiti newspapers Sunday, Saqr said such decisions would contribute to encouraging investments and put an end to the red-tape the investors are facing.

He said the council tackled impediments to investment in Egypt and the outcome of meetings with Egyptian officials including President Abdel Fattah El Sisi, expressing thanks for the Egyptian officials over their steps to encourage investments.

Sqar called on Kuwaiti investors to pump more investments in Egypt, saying the Kuwaiti side decided to hold the third joint meeting in Kuwait in the first half of 2017.

The council was established in 2015 as an independent body grouping businessmen, politicians, mediamen and intellectuals from the two countries to promote investment chances.