Egypt seeks more Kuwaiti investments

Egypt's ambassador to Kuwait Yasser Atif has said Cairo wants to attract more Kuwaiti investments into the Egyptian market in light of the distinguished ties binding the two Arab countries.

In a press conference on Thursday, the ambassador said one of his main tasks is boosting cooperation ties between the two countries.

Atif handed over his credentials to Emir of Kuwait Sheikh Sabah al Ahmad al Sabah on Tuesday.

Problems facing nine Kuwaiti companies in Egypt were solved, he told the press conference, adding that the Investment Authority is working hard to remove obstacles.

"We are working hard to ease obstacles before investors in Egypt," he said, adding that Egypt does not want only to meet the demand on the local market for energy, but also to export the surplus.

The ambassador promised that he will pay much attention to problems facing Egyptians working in Kuwait.