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Egypt eyes FDI of USD35b in 50 projects

07 Mar 2015

(MENAFN) Egypt plans to offer some 50 projects valued at up to USD35 billion at a three-day international investment conference beginning on March 13 in the Red Sea resort of Sharm Al Sheikh, Khaleej Times reported.

Some 1,700 international investors, executives, government officials, financiers and experts have registered to attend, International Cooperation Minister said at a Press conference on Thursday.

Egypt attracted some USD1.3 billion in foreign investment in the first quarter of the current fiscal year ending in June. The government hopes to reach USD8 billion by the end of the fiscal year.

“The main project that we’ll show in the conference is the development of the Suez Canal, which will represent 30-35 percent of Egypt’s new economy,” Investment Minister said.

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