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FINANCIAL NEWS
Egypt seeks to attract USD12b in investments
23 Nov 2014
(MENAFN) Egypt’s Ministry for International Co-operation said that the country hopes to attract investment between USD10-12 billion in 20 projects, including in energy, transport and water sectors, Gulf Daily News reported.
The Egyptian government has been implementing an economic reform plan which has resulted in slashed energy subsidies and raised taxes, as well as resolving a number of disputes with existing investors as it seeks to revive the country’s economy that has been in turmoil due to political unrest.
The government also plans to unveil the master plans for the development of an industrial and logistics hub near the Suez Canal, and for the development of a mining zone in southeastern Egypt.
“For the time being we have around 20 projects and divided between three categories: PPP, private and public. Most of them are in the areas of energy, transport, water, grain storage,” The Ministry for International Co-operation said in a statement.
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