Egypt is moving regionally to win a piece of Iraq's "cake"

Egypt is moving regionally to win a piece of Iraq's "cake"



Twilight News

9 minutes ago

Egyptian officials have revealed Cairo's consultations with international and regional parties to try to form a coalition of construction companies in order to win part of the "cake" of projects being prepared for the reconstruction of Iraq.

In this context, the Secretary General of the Federation of Egyptian Chambers of Commerce, Dr. Ezz Ezz, that "his country is ready with full force to participate in the reconstruction of Iraq."

Ezz said that "contacts are taking place between the Union of Egyptian Chambers, the Federation of the White Sea Chambers and the Union of European Chambers to establish strong alliances in the large projects that will be launched in Iraq."

"There is a growing demand for Egyptian companies, given their experience in infrastructure projects, especially that Egypt has companies with international expertise, most notably Egyptian construction companies and Nasr General Contracting. Holding companies for construction and development have considerable experience in infrastructure and construction work, .

For his part, stressed the Chairman of the Committee on Prices in Egyptian Chambers of Commerce Ahmed Saqr, that "Iraq reconstruction projects will provide huge employment opportunities for young people," explaining that "Egyptian exports will open new markets and strongly in Iraq reconstruction projects, especially the cement industry, which is expected to flourish Significantly".

He called on the Egyptian government "to overcome all obstacles that stand in the way of increasing investment," pointing out that "Egypt has international experience in the projects needed by Iraq for reconstruction."

For his part, the Honorary President of the Egyptian Businessmen Association Hussein Sabour said that "the past period has shown the ability of Egyptian companies to complete large projects in record time, which happened in the Suez Canal project and the administrative capital."

Sabour expressed his fear of "repeating the scenario of the reconstruction of Kuwait, and identify bribes and favoritism to countries participating in these mega projects, but at the same time expressed optimism about this file, especially with the leadership of Egypt in this sector."

Economist Dr. Hassan al-Shataki said that "the world's countries and multinational companies are competing to win part of Iraq's reconstruction cake, which costs more than $ 88 billion."

Al-Shakati called for "the Egyptian government to allocate at least $ 1 billion in loans for projects to be implemented by Egyptian companies in the reconstruction process." He added that "participation in reconstruction will increase the capabilities of Egyptian companies, which will benefit the local market."

Shakati said that "to enhance Egypt's opportunity to participate in the reconstruction of Iraq, Baghdad officially requested Egypt's participation in that, being aware of Egypt's capabilities in the large infrastructure projects."

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