Prime Minister Hazem al-Beblawy assured investors of Egypt's strong economic situation on Wednesday during the opening of the Egyptian Gulf Investment Forum in Cairo.
"The state is extremely strong and [we] are determined to implement the road map," Beblawy said, as the country tries to attract more investments.
Egypt has struggled with falling foreign investments since the recent outbreak of political instability over the 30 June uprising. The country has since looked to the Gulf for support in propping up its economy.
Beblawy said Egypt aims to expand its economy, projecting a growth level of 3.5 percent by the end of the 2013-2014 fiscal year.
He also assured investors that the country is able to pay its debt, indicating that Egypt has been approved to repay US$1.5 billion of debt to foreign oil companies. The government had previously stated that arrears to those companies have reached $6.2 billion.
The government has also settled disputes with 19 investors from the UAE, Kuwait and Saudi Arabia, according to Beblawy.
He announced that Egypt will issue a report, explaining the tender for the Suez Canal regional development project later this month.
Edited translation from Al-Masry Al-Youm
