Global Arab Network | UAE: Egypt is a promising investment destination

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UAE: Egypt is a promising investment destination

Global Arab Network - - Mohammed Almasri

Friday, 05 November 2010 00:11

Egyptian Minister of Trade and Industry Rachid Mohammed Rachid urged UAE businessmen to invest in Egypt in the various business sectors. Egypt is a promising investment destination, he added.

The remarks were made during a symposium that was organized by Abu Dhabi Chamber of Commerce and Industry on Wednesday.

In another development a conference will be held in Dubai in March on the future of Arab-African economic cooperation, said Rachid.

Speaking at a press conference at the conclusion of his visit to Abu Dhabi on Wednesday, Rachid said Egypt is a signatory of free trade agreements with most of the member states of the Common Market for Eastern and Southern Africa (COMESA).

The government will adopt a new stage of economic reform to attract more investments and increase the economic growth rate, he said.

Rachid said that the Egyptian government will put up for subscription for investors four giant projects.

The aggregate investment of the projects will hit 10 billion dollars, he said, adding that they will be located in Port Said, Suez, Alexandria and Upper Egypt.

The projects will be operating in the domains of tourism, industry along with therapeutic and educational services, he added.
(SIS)

Global Arab Network

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