Nasr talks about ministry's strategy to increase local, foreign investments

CAIRO - 19 September 2019: Investment and International Cooperation Minister Sahar Nasr said on Thursday the ministry is working on carrying out a comprehensive strategy to encourage local and foreign investments and achieve sustainable development.

The ministry's "Fekretak Sherketak" (your idea is your company) initiative and the Egyptian Entrepreneurship Investment Company (EEIC) come as part of this strategy, said Nasr during a meeting organized by the Egyptian Society for Investment.

The EEIC, also known as "Egypt Ventures", is a startup fund that invests in early-stage funds, incubators and venture capital funds and also invests directly in fast growing startups.

President of Egyptian Exchange Mohamed Farid, who was present at the meeting, underlined the importance of the money market in boosting economic growth.

He said some world companies like Uber and Facebook resorted to releasing their shares in the money market to get more financing.