Foreign investment in Egypt will reach ‘about $2 bln’ in second quarter

Foreign investment in Egypt will reach about $2 billion in the second quarter of the fiscal year, up from $1.8 billion dollars in the previous quarter, investment minister Ashraf Salman told Reuters in an interview on Sunday.

Egypt is also preparing a new unified investment law that will be sent to President Abdel Fattah al-Sisi by the end of February or early March, Salman said.

Egypt is holding an investment conference in the resort city of Sharm el-Sheikh in mid-March, where it hopes to secure domestic and foreign investment of $10-12 billion.