Egypt takes steps to boost foreign investments
Egyptian Minister Atif Abayd recently disclosed plans to promote increased foreign investments and boost demand in local markets, according to the MENA news agency.
The new economic measures will include reduction of interest rates on loans in the private sector, since current rates are considered significantly higher relative to other nations.
Recently, a meeting attended by the Prime Minister, representatives of Egypt, various Arab nations and international firms, dealt with the issue of increasing investments in the country.
One outcome of the gathering was the proposed establishment of joint committees by the ministries of justice and finance, and investment authorities as a means of furthering Egypt’s financial goals. Specifically, such committees would be responsible for removing obstacles of trade and investment in Egypt.
In addition, the Prime Minister discussed with participants of the meeting means of expanding and developing the country’s most promising industries, particularly the petrochemicals sector. –(MENA Report)
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