Specialised banks study projects ahead of Sharm conference

Minister of Investment Ashraf Salman said foreign direct investments in Egypt stood at 1.8 billion dollars in fiscal 2014/2015, compared with 4.2 billion dollars in fiscal 2013/2014.
If Egypt continues with the same rate during the first quarter of this fiscal year, the investments can reach around 7.2 billion dollars, the minister told MENA in statements following the Egyptian-Lebanese business forum in Beirut.
The majority of investors taking part in the forum have been invited to the economic conference in Sharm el Sheikh next month, he said, adding that it will be an excellent opportunity for promoting investment in Egypt.
Trade between Egypt and Lebanon stands at 615 million dollars with the balance of trade titling in Egypt's favor because Egyptian commodities are diverse, he said, adding that Egypt exports to Lebanon commodities worth
around 529 million dollars, while Lebanon exports goods worth around 84 million dollars.
He stressed the need to increase trade between the two countries.
Lebanese investments in Egypt amount to around 1.9 billion, he said.
Egypt presents some projects to investment banks which are still being studied and therefore the exact number of projects to be presented during the conference is not known yet, he added.
Source: MENA