Notable progress made in Egypt’s investment field: Nasr

CAIRO – 16 December 2017: Egypt has made notable progress in the field of investment during the past months after issuing a number of laws that aim to encourage companies to do business in Egypt, Minister of Investment and International Cooperation Sahar Nasr said in a statement Saturday.

This came during her speech in the annual meeting of the Center for Mediterranean Integration (CMI) in Marseille, Paris.

Nasr said that Egypt has recently passed a new investment law and its executive regulations. The law includes a bundle of incentives and guarantees for investors, she said, adding that Egypt’s investment climate is suitable to receive an influx of new businesses.

She further said that an investment map is scheduled to be launched soon, which will include all investment opportunities available in different fields. The map was prepared in cooperation with other ministries.

The Egyptian government has been exerting considerable efforts recently to ramp up investment. Egypt is targeting $10 billion in foreign direct investments during fiscal year 2017/18.

Nasr noted that Egypt has started a host of major projects as well as adopting a comprehensive economic reform program.

The minister affirmed her keenness to enhance cooperation with the CMI in youth training, pointing out that young people in Egypt represent nearly 50 percent of the population.

The CMI is a muli-partner platform, where development agencies, governments, local authorities and civil societies from around the Mediterranean convene in order to exchange knowledge, discuss public policies, and identify the solutions to key challenges facing the Mediterranean region.

Through innovative solutions, the CMI aims to help countries achieve transformative reforms and enhance integration in the Mediterranean.