Morsi: 'New' Egypt is open for business

Egyptian President Mohamed Morsi opened his arms to international capitalism on Sunday as he greeted US businessmen intent on exploiting the supposedly revolutionised country.

Mr Morsi vowed to carry out structural reforms to create a better environment for business.

His Muslim Brotherhood has always strongly backed the private sector and many of its top figures and financiers are businessmen.

The delegation was organised to introduce US companies to the new president.

It is part of a four-day mission to Egypt organised by the US Chamber of Commerce and the 49 companies on the trip are looking to secure their investments and expand profits.