London hosts Investments in Egypt conference
An international conference for Investment Opportunities and Trade in Egypt is soon to be held in London, reports Al-Quds Al-Arabi daily.
Numerous Egyptian and British ministers and officials will participate in the event, which is organized by the Egyptian-British Chamber of Commerce and Industry, the Egyptian Embassy in the England, and the office of the Egyptian Commercial Attache in London.
Egypt considers Britain's support crucial, particularly with regard to its association agreement with the EU.
British investments were among the biggest non-Arab investments in Egypt, constituting approximately one third of the total volume of foreign investments in the country. Presently, there are approximately 220 British companies investing in Egypt with total investments amounting to more than $4 billion.
In 2000, Egyptian exports to Britain amounted to nearly $440 million, while British exports to Egypt were valued at around $500 million.
Currently, investments in oil refining, liquified natural gas, petrochemicals, road construction and information technology are considered promising, according to Egyptian market specialists. Further investment incentives include the fact that no restrictions exist on transferring profits abroad, as well as tax exemptions which are in effect for up to 20 years, are offered to investment projects. —(MENA Report)
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