Egypt Presents $25 Billion of Projects for Foreign Investment

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Researched by Industrial Info Resources (Sugar Land, Texas)--In the Egyptian government's quest to broaden relations with various countries in order to open markets for Egyptian products and find new opportunities for cooperation in the areas of trade, industry, investment and technology transfer, Egyptian Minister of Investment Mahmmoud Mohi Eddin recently traveled to Hong Kong and Singapore to promote investment opportunities available in Egypt. During the visit, Eddin promoted new investment projects in Egypt, including 46 projects supervised by the Ministry of Investment in Upper Egypt, the Red Sea area, and the special economic zone northwest of the Suez Gulf. The projects have a combined total investment value of $25 billion. The projects include construction of commercial centers, civil projects, rail and airport construction, technology development, tourism projects, and construction of medical centers.

The Minister of Investment explained that the targeted investment in the current fiscal year is between $ 8 billion and $10 billion, and he pointed to the diversity of foreign direct investment, which contributed more than 50% of investment in new enterprises in all sectors, other than oil and natural gas. The minister noted that inflation rates seem to have stabilized, after topping more than 18% in 2009.

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