Investment Minister Ashraf Salman has declared expectations to attract foreign investments of US$10 billion this year.
Salman said there is a relative increase in investors’ confidence in the Egyptian economy after the 30 June events.
"The government is working on a unified law for investment to guarantee an exemption from taxes at areas that need to be developed," the minister added.
Salman highlighted Emirati, Saudi and Kuwaiti demands to invest in electricity, adding that Chinese investors want to establish stations for diesel oil and to generate electricity from coal.
Regarding bonuses given by the government to the private sector to pump targeted investments estimated at LE260-360 billion, Salman said, “We offered the Suez Canal development project for private sector investors, where investments could reach LE120 billion in 15 years. The investment opportunities include logistic zones, fixing ships, grain silos, developing ports and residences for workers."
Edited translation from Al-Masry Al-Youm
