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FINANCIAL NEWS
Egypt looks to lure investment from Gulf
28 Oct 2013
(MENAFN) Egypt has plans to lure businessmen from the Gulf to invest in its burdened economy, which is affected by the turmoils in the country, Times of Oman reported.
The North African nation’s Investment Minister had already made contact with thousands of businessmen, trying to bring investments to his country.
“All of the Gulf in general is standing by Egypt … We are already discussing the projects they will bring,” the minister said.
Over USD12 billion in grants, loans and fuel shipments were pledged to Egypt by Saudi Arabia, Kuwait and the UAE following President Mursi’s removal from office.
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