Envoy urges United States companies to increase investments in Egypt

Egypt’s Ambassador here Yasser Reda called on American companies to increase their investments in Egypt in light of the large available investment opportunities in the country.

During a meeting with a number of executives of American companies in Petersburg, Pennsylvania, Reda shed light on the Egyptian government’s efforts to carry out its ambitious economic reform program and the progress achieved so far.

He said the growth rate has risen to 4.2% in the past financial year and expected a similar growth this year, adding that the budget deficit declined from 14% to 10%.

Egypt’s credit rating has improved more than once in the past period, the Egyptian envoy said.

He also highlighted Egyptian efforts to lift obstacles facing foreign investments and expounded on major development projects under implementation in the different fields.