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FINANCIAL NEWS
Egypt sees USD20b investment projects at economic summit
08 Mar 2015
(MENAFN) The Egyptian government eyes to attract more foreign direct investment rather than aid and forthcoming Egypt Economic Development Conference, or EEDC, this month is expected to help boost FDI into the country, Khaleej Timed reported.
The country received last year USD4 billion in FDI and this year it is expected to attract USD8 billion, according to Egypt’s Investment Minister. The country has obtained USD23 billion in aid from the UAE, Saudi Arabia and Kuwait in the 18 months since President Mohamed Morse was ousted, according to the minister.
Egypt will present 30 different investment projects worth a total of USD20 billion at the Economic Summit. Widely viewed as a make-or-break conference on Egypt’s journey back to rapid economic growth, the EEDC is a chance to prove to the region and the world that Egypt is on the right path.
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