(MENAFN- The Arabian Post) Foreign investment in Egypt will reach about $2 billion in the second quarter of the fiscal year, up from $1.8 billion dollars in the previous quarter, investment minister Ashraf Salman told Reuters in an interview on Sunday.
Egypt is also preparing a new unified investment law that will be sent to President Abdel Fattah al-Sisi by the end of February or early March, Salman said.
Egypt is holding an investment conference in the resort city of Sharm el-Sheikh in mid-March, where it hopes to secure domestic and foreign investment of $10-12 billion.
The country is working to boost investor confidence that has been hit hard by nearly four years of political and economic turmoil after the 2011 ouster of autocrat Hosni Mubarak.
A planned "higher investment council" will help resolve the investor disputes and bureaucratic obstacles that have hampered investment in the Arab world's most populous country, the minister said. € Reuters
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.