Egypt's investment map has promising opportunities

Egypt’s investment map includes promising opportunities for investors in various areas, Minister of Investment and International Cooperation Sahar Nasr told US companies representatives in the United States on Friday.
In an official statement, the ministry of investment and international cooperation said Nasr met with several major US companies desiring to invest in Egypt at the United States Chamber of Commerce (USCC) during her participation at the World Bank’s Spring Meetings in Washington DC.

Nasr gave the US representatives an overview of the reforms achieved, highlighting the Egyptian government’s efforts to encourage investments by the private sector to drive economic growth, job creation, and elimination of poverty, by implementing economic reforms and huge investments.

Egypt has introduced a number of fiscal reforms since 2014, including fuel subsidy cuts, as well as imposing a new value added tax (VAT) to ease a growing budget deficit, and a decision in 2016 to float the currency.

The country has since secured a $12 billion loan programme from the IMF.

Nasr pointed to the passing of the new investment law and its executive regulations, as well as the bankruptcy law, and amendments to the companies and the capital market laws and their executive regulations.