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Egypt: Africa-France Summit Opportunity for Investment Promotion

Monday, 31 May 2010 20:40

Egypt's Investment Minister Mahmoud Mohieddin said that Egypt will capitalise on France-Africa summit, as a favourable opportunity for promoting investment projects in the country with special focus on infrastructure.

In statements Sunday 30/5/2010 on the sidelines of the France-Africa preparatory meetings, Mohieddin said that Egyptian companies have always had a strong presence in Africa, asserting Egypt's keenness on boosting joint cooperation with the French companies operating in the African continent.

He said that the government's role is to create a favourable investment climate in the country.

Mohieldin further said that there are very broad investment areas in Africa, adding that the business potential in Africa is infinite.

He said that the African continent is an attractive market to foreign investment, citing Africa's participation in several economic summits, mainly China-Africa, France-Africa and India-Africa summits.

Egypt has a fully diversified economy with enormous potential for sustained high growth across all sectors, Mohieldin said.

He added that Egypt's economy has shown ability to counter the repercussions of the global financial crisis.

The Africa-France summit addresses a number of priority issues of interest to the African and French sides, with emphasis on Africa's position in the world's economic and political governance structures, the challenges of achieving peace and security in Africa, including French support in this regard, in addition to discussing the problem of the link between the issues of climate change and the need for a development leap in Africa.(SIS)

Global Arab Network

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