A historic $200 million investment deal has been signed between a Turkish-Egyptian company and the Egyptian government to develop two industrial zones in the country. The agreement was made during Egyptian President Abdel Fattah el-Sisi’s visit to Ankara, marking a significant milestone in the relations between the two nations.
At the ceremony, Polaris Parks managing director Osman Evren Arikan signed a deal to establish an industrial zone in Egypt’s New October City, along with 18 other agreements covering various sectors such as finance, energy, and health. Turkish President Recep Tayyip Erdogan and President Sisi were present at the event, symbolizing the beginning of a new era in their diplomatic ties.
The project aims to create 25,000 to 30,000 job opportunities within a five-year timeframe and attract investments from 1,000 companies, generating jobs for 50,000 people. Polaris Industrial Parks, known for its modern and eco-friendly infrastructure, already operates three industrial zones in Egypt, supporting over 700 factories.
The collaboration highlights the positive impact of foreign investments on the Egyptian economy and underscores the commitment of the involved parties towards mutual growth and prosperity.
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