Deutsche Bank plans to allocate $35m in grants to Egypt: Investment Minister

Deutsche Bank intends to allocate $35m in grants to Egypt within a total of $150 earmarked for Africa, according to Minister of Investment Ashraf Salman.

During a meeting held on Sunday with Sebastian Caulfield , Deutsche Bank’s Board of Directors member responsible for the investment portfolio, Salman said the government is seeking to improve business practices. Salman said this was especially in regards to dispute resolution committees and expanding special economic zones.

According to a ministry statement issued on Sunday, Salman added that Egypt will focus on an area northwest of the Gulf of Suez. Several petrochemical companies are currently operating in the field of ship repairs, attracting investment.

Salman said: “Our vision as a government is to offer a system of special economic zones in an integrated manner with chains of projects in order to attract international companies, maximise the benefit, and increase the rate of capital turnover.”