(MENAFN) The Egyptian Investment Minister said that the value of foreign investments in the country has registered an increase during the second quarter of the fiscal year, hitting USD2 billion compared with USD1.8 billion recorded during the first quarter, Arab News reported.
The ministry also said that the country is currently preparing a new unified investment law that will be presented to the president by the end of February or early March, as the country continues its preparations to host an investment conference in the resort city of Sharm el-Sheikh in mid-March, where it hopes to secure domestic and foreign investment of USD10-12 billion
Egypt, which economy was hit hard due to four years of political turmoil, said that it is considering creating a higher investment council, which will help in resolving investor disputes and bureaucratic obstacles that have negatively affected investments in the Arab world's most populous country.
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