$25B of US investment in Egypt, mostly petroleum sector

Omar Mehanna, Chairman of the Egyptian-American Business Council, said Monday the value of American assets invested in Egypt has reached $25 billion, mostly in the petroleum sector.

In an interview with CNBC Arabia, he said there is growing interest from U.S. companies in renewable energy, consumer goods, and chemicals, explaining that this interest stems from a genuine desire by U.S. investors to inject new investments into the Egyptian market in the coming period.

He explained that the U.S. presence in the Egyptian market is not new, but rather an extension of decades of successful partnerships.

He emphasized that "most, if not all U.S. companies operating in Egypt are achieving good results, and this constitutes a strong attraction for other companies to expand and invest in Egypt."

This comes as the Egyptian-U.S. Economic Forum is held in Cairo on Monday.