During the World Urban Forum, Egypt’s Minister of Housing, Utilities, and Urban Communities, Sherif El Sherbini, met with Slovakia’s Minister of Investment and Regional Development to discuss investment opportunities in Egypt’s new cities, particularly the fourth-generation smart cities, Invest-Gate reports.

El Sherbini emphasized Egypt’s commitment, under President Abdel Fattah El Sisi’s leadership, to developing sustainable, smart cities that integrate various investment opportunities across urban development sectors.

Moreover, El Sherbini highlighted the potential within these cities for industrial zones focused on attracting and localizing advanced technologies.

El Sherbini stated that Egypt’s housing strategy supports local industry and manufacturing, fostering collaboration between Egyptian and international companies to exchange expertise and localize advanced technologies.

Also, the ministry supports foreign direct investment, especially in construction-related industries and essential infrastructure, such as water and sewage projects.

“We are flexible and open to partnerships with the private sector, offering substantial support and identifying the best investment opportunities tailored to Egypt’s real estate needs,” said El Sherbini. He emphasized Egypt’s current focus on joint ventures with foreign companies to boost direct investments.

Notably, the Slovak Minister admired Egypt’s progress in urban development and showed enthusiasm for strengthening ties and benefiting from Egypt’s extensive expertise in sustainable urban development.