Egypt to attract $7.5b FDI in 2009/10

13 May 2010

(MENAFN) Egypt’s Economic Development Minister, Osman Mohamed Osman, said that the country is set to attract $7.5 billion in foreign direct investment (FDI) in the fiscal year 2009/10, Reuters reported.

The minister also said that the FDI figure could reach $10 billion in the fiscal year 2010/11.

According to earlier central bank reports, foreign direct investment reached $2.63 billion in the first half of the fiscal year 2009/10, which began July 1, 2009.

In March, Investment Minister, Mahmoud Mohieldin, said that Egypt may see FDIs reaching $10 billion in 2009/10.

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