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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Egyptian companies seek to invest half a billion dollars in Iraq

    Rocky
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    Egyptian companies seek to invest half a billion dollars in Iraq Empty Egyptian companies seek to invest half a billion dollars in Iraq

    Post by Rocky Sun 02 Jun 2024, 5:14 am

    Egyptian companies seek to invest half a billion dollars in Iraq

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    Economy News - Baghdad
    [rtl]The Iraqi Ministry of Health is holding discussions with Egyptian contracting companies to participate in the implementation and rehabilitation of 12 hospitals in the country, with a total investment of $480 million, according to two Egyptian sources who spoke to Al-Sharq.[/rtl]
    [rtl]Egyptian contracting companies are moving to expand their business outside Egypt and seize business in countries that allocate billion-dollar investments for reconstruction and development, especially Iraq and Libya, in light of the current slowdown in government investments in Egypt in the field of infrastructure and contracting, as part of the government’s plan to make room for the private sector, amid the uncertainty of the future of the exchange rate. Pound.[/rtl]
    [rtl]At the end of last January, the Egyptian Council of Ministers agreed to reduce 15% of investment spending in the budget for the current fiscal year 2023-2024, taking into account a number of exceptions, including those whose availability rate exceeded 50%. It also prohibited concluding any contracts on these projects by order. Direct or public tenders until the end of the current fiscal year.[/rtl]
    [rtl]One of the people familiar with the discussions said that a delegation including eight officials from the Iraqi Ministry of Health is currently visiting Egypt to discuss the qualification of Egyptian contracting companies, including “Arab Contractors” and “Concrete Plus,” to submit technical and financial offers to implement a number of hospitals.[/rtl]
    [rtl]Reconstruction[/rtl]
    [rtl]Iraq needs $88.2 billion to implement reconstruction projects inside the country, which witnessed great destruction during the war against ISIS, according to previous statements by the Iraqi Ministry of Planning.[/rtl]
    [rtl]The CEO of the Egyptian Concrete Plus Company, Tarek Youssef, said that a company is currently being established in Iraq to participate in contracting work in the Iraqi market.[/rtl]
    [rtl]He revealed in exclusive statements to Al-Sharq that the company had submitted a technical proposal to implement hospitals for the Iraqi government.[/rtl]
    [rtl]Expansion into foreign markets has become a strategic goal for the Arab Contractors Company, which is wholly owned by the Egyptian government, with the aim of diversifying sources of foreign currency, according to what a company official told Al-Sharq last March, indicating that the company seeks to work to increase its various projects in the Middle East and Africa region and open New markets out there.[/rtl]
     


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