Nasr says Egypt daring economic reforms start to bear fruit

DAVOS, Jan 22 (MENA) - Investment Minister Sahar Nasr said that Egypt successfully implemented a daring economic reform program that already started to bear fruit.

Speaking in an interview with CNN Tuesday, the Egyptian minister said she is in Davos to send a message that Egypt is ready to receive more investments and act with effective parties of the private sector, as well as international partners.

The comprehensive reforms are meant to encourage the private sector to play a bigger role in the economy, Nasr said.

She touched upon reforms that aimed to improve the business climate and push the private sector to contribute to strategic projects, particularly in the field of energy and renewable energy.

The Egyptian economy is now among the world's top 10 in terms of attraction of foreign direct investments and achieving growth, Nasr told CNN.

It is number one in Africa, added a proud Nasr. Many investors see Egypt as a gate to Africa, the minister said, believing that's why multi-national and major companies seek to do business in Egypt.

Asked about challenges facing the tourism sector in Egypt, Nasr assured that the security situation has tangibly improved in the country.