Egypt: Nasr to CNN: Government Works upon Sisi Vision to Attract Investment
Source: www.export-egypt.com 12/25/2017
Investment and International Cooperation Minister Sahar Nasr said Egypt is implementing an ambitious economic reform program, including social safety networks.
Interviewed by CNN, the minister said President Abdel Fattah El Sisi has developed a vision implemented by the government to attract investments.
The rate of direct foreign investments increased by 15 percent compared to the previous fiscal year, Nasr said.
The UK is ranked first in terms of direct foreign investment in Egypt, she added.
Recently, the US has bumped new investments, alongside investments from Germany, the largest economy in the European continent, the minister said.
Asian, Arabian Gulf, and North African investors are keen to invest in the Suez Canal Area Development Project, she added.
The oil sector is the most attractive sector, in addition to infrastructure and housing, Nasr said.
Thirteen agreements have been signed for the establishment, by the private and petroleum sectors, of the largest solar power plant, she added.
Egypt has a strategic position not only geographically but also economically and politically, the minister said, referring to President Sisi's remarks that underlined that stability, security, peace and investment were the main catalysts for economic growth.