Orascom interested in Telekom privatisation

Serbian Minister of Trade and Services Slobodan Milosavljevic stated after a meeting with Egyptian Minister of International Cooperation Fayza Abul-Naga that one of North Africa’s leading telecommunications companies Orascom Telecom Holding is interested in the privatisation of Telekom Srbija.

Milosavljevic said that he talked with Abul-Naga about improving economic cooperation between Serbia and Egypt, focusing on possible investment projects. He confirmed that Egyptian investors are interested in the takeover of Azotara Pancevo.

Egyptian investors are also interested in investing in various sectors such as the furniture industry, agriculture and tourism, he remarked.

The objective of the session of the Mixed Serbian-Egyptian Committee for Economic Cooperation is to raise the level of economic cooperation or to bring it closer to the level of political cooperation, based on the excellent understanding between the Serbian and Egyptian presidents, explained Milosavljevic.

Abul-Naga affirmed that Egyptian business people are interested in improving cooperation with Serbia and in investing in several different sectors of the Serbian economy.

She pointed out that cooperation can be developed in the furniture industry, stressing that Egypt imports 80% of raw materials for its industry from other countries, including Serbia.

The economies of our two countries are complementary and the possibilities for setting up joint companies are the greatest in the pharmaceutical, metal and artificial fertiliser industries, she noted, adding that this will be discussed at tomorrow’s session of the Mixed Committee.

Telekom Srbija a.d. Beograd

Ministarstvo turizma i omladine Republike Srbije

Orascom Telecom Holding S.A.E Cairo

HIP-AZOTARA d.o.o. Pančevo

Ambasada Egipta u Beogradu

Orascom

Slobodan Milosavljević

Ministry of International Cooperation

Fayza Abul Naga