(MENAFN) Abu Dhabi asset manager Invest AD, part of Abu Dhabi Investment Council, is set to improve Egyptian investments, expecting that the country's reestablished political stability and economic reform will help motivate growth, Gulf Times reported.
The Egyptian authorities have recently taken some significant measures to attract investors such as reducing energy subsidies, lowering income tax and devaluing the Egyptian pound.
The North African country now accounts for 35 percent of Invest AD's USD50 million Africa equity fund, increasing from 10 to 15 percent in 2014, Nigeria is 5 percent, down from 30 to 35 percent, according to the portfolio manager.
"The trigger was political stability. From an economic standpoint, it's been reassuring in the past six to eight months, the implementation of economic policies and investments that have been promised," the portfolio manager said in a statement.
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