Egypt to top $10 billion FDI target this year
Cooperation Minister Sahar Nasr
Cairo - Egypt Today
Egypt may exceed its 10 billion-dollar target for foreign direct investment this year as a new investment law comes into force, said Investment and International Cooperation Minister Sahar Nasr.
In an interview with Bloomberg, Nasr said that she had been approached by investors from Saudi Arabia, Singapore, China and the United Arab Emirates -- including Emaar Properties PJSC Chairman Mohamed Alabbar and Al Ghurair Group -- about potential investments.
The pipeline for the fiscal year that began July 1 includes oil and gas, real estate, tourism and logistics investments, she said in an interview published by Bloomberg on Wednesday. Nasr said it was too early to comment on the size of the potential deals.
“With the devaluation, the cost of labour is lower than elsewhere,” Nasr said, adding that even with recent reductions in fuel subsidies, the cost of energy in Egypt remains less than in neighbouring countries or other emerging economies. “Egypt sure has an edge,” added the minister.
“In the oil and gas sector, currency convertibility was an issue, and now with the problem of the arrears being addressed, they are picking up investment at a faster rate,” she added.
Source : Mena
GMT 08:11 2018 Tuesday ,16 October
Egypt, Cyprus defence ministers discuss regional securityGMT 09:21 2017 Friday ,22 December
Food security worsening in conflict-hit MideastGMT 09:10 2017 Friday ,22 December
Egypt announces probe into torture claimsGMT 10:53 2017 Tuesday ,19 December
Sisi reviews plan to benefit the most from water resourcesGMT 10:45 2017 Tuesday ,19 December
Hisham Arafat witnessed the inking of MoUsRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 10:14 2019 Monday ,19 August
Love a special date with you
GMT 09:07 2024 Thursday ,08 February
UTair flight makes emergency landing in Russia’s Yekaterinburg
GMT 14:23 2018 Friday ,05 October
Congolese physician and Iraqi human rights activist win 2018 Nobel Peace Prize
GMT 15:21 2017 Wednesday ,26 July
Jordan, Egypt agree to form investment council
GMT 06:12 2017 Wednesday ,15 March
China’s economy gets off to strong start in 2017
GMT 10:38 2017 Tuesday ,19 December
Sisi issues decrees appointing new secretaries
GMT 22:42 2017 Wednesday ,22 February
Mugabe praises Trump’s ‘America First’ policy
GMT 12:42 2017 Thursday ,29 June
Cutting fuel subsidies falls within gov't
GMT 07:17 2017 Wednesday ,23 August
US targets Chinese, Russian entities, individualsGMT 00:02 2011 Thursday ,20 October
Groin op \'successful\': All Blacks ace Carter
GMT 13:29 2016 Thursday ,15 December
Nacional slam video ref after world club exit
GMT 07:32 2017 Thursday ,02 March
Moroccan Minister Calls For Expertise Network
GMT 13:40 2017 Tuesday ,09 May
As manhunt ends, African warlord Kony eludes justice
GMT 08:31 2018 Monday ,22 January
West's 'Russiaphobia' worse than
GMT 19:13 2017 Monday ,02 October
Fine weather on Tuesday
GMT 12:59 2014 Thursday ,10 July
Haya seeks to reduce malnutrition rates
GMT 14:18 2017 Monday ,28 August
Belarus praises Egypt's role in ME stability
GMT 14:58 2016 Tuesday ,13 December
Andie MacDowell talks life, career at DIFF
GMT 07:37 2017 Friday ,10 February
Gaza's 'Spider-Man' contortionist enters record books
GMT 13:36 2016 Tuesday ,06 December
Look at libraries over league tables when choosing a school
GMT 18:30 2017 Monday ,18 December
'Multiple' fatalities as train derails onto highway in Washington state
GMT 14:39 2017 Saturday ,16 December
Arming Popular Mobilization forces under Iraqi governmentGMT 16:13 2012 Wednesday ,12 September
A journey among the best coursesGMT 09:17 2011 Wednesday ,15 June
Ghada celebrates daughter’s engagementGMT 15:36 2013 Thursday ,24 January
Intense care from La Roche-Posay
GMT 10:43 2017 Monday ,29 May
Nermin Maher confirms role in “Blood Chain” is surprise
GMT 09:08 2017 Thursday ,05 October
Nourhanne happy for participating in new drama
GMT 21:39 2017 Monday ,08 May
Palestinian prisoners in Israeli jails enter 22nd day of hunger strike
GMT 05:33 2017 Monday ,30 January
‘Joint responsibility between home, school and media to combat drugs’
GMT 06:32 2017 Monday ,17 April
Attempt by 91 persons to sneak into Libya foiled
GMT 10:23 2016 Wednesday ,23 March
cartoon fourteen
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor