Abdel Fattah El-Sisi, President of Egypt AlsisiOfficial begins a visit to India on Wednesday, where he is expected to meet business leaders and be a guest of honour at India’s RepublicDay on January26.
According to an Egyptian presidency statement, the trip will include discussions on strengthening economic relations between the two countries as well as reviewing opportunities for Indian investment in Egypt.
Egypt is attempting to attract foreign investment as it attempts to manage a dollar shortage that has caused the Egyptian pound to depreciate sharply.
After the economic fallout from Ukraine’s war exacerbated its underlying problems, it sought assistance from energy-rich Gulf allies and the International Monetary Fund last year.
Cairo has also sought to expand its political and economic ties beyond its traditional alliances with the US and European powers, including in Sub-Saharan Africa and Asia.