President Sisi of Egypt travels to India to boost investment opportunities

Egyptian President Abdel Fattah Al-Sisi is all set to kick off his visit to India on Wednesday, where he is scheduled to engage with business leaders and also grace India’s Republic Day celebrations on 26th January as a distinguished guest of honor.

According to a statement from the Egyptian presidency, the upcoming trip will focus on bolstering economic ties between the two nations and exploring potential opportunities for Indian investments in Egypt.

Egypt is actively seeking to attract foreign investment in light of a dollar shortage, which has resulted in a significant devaluation of the Egyptian pound.

Last year it sought help from energy-rich Gulf allies and the International Monetary Fund after the economic fallout from the war in Ukraine exacerbated its underlying challenges.

Cairo has also been seeking to forge political and trade ties beyond its traditional alliances with the United States and European powers, including in sub-Saharan Africa and Asia.

(Reuters)