Egypt qualified for more US investments
Egypt-USA, Economics, 5/27/2000

Molly Williamson, the US Deputy Assistant Secretary of Commerce, deemed her visit to Egypt one of the positive results of President Mubarak's recent trip to Washington and his talks with prominent American business people.

Speaking to reporters at the US Embassy on Thursday, Williamson said that American businessmen had asserted to President Mubarak their desire to pump more investments into Egypt.

Molly also cited the US Congress's recommendation on increasing US investments in Egypt in view of the favorable climate in the country.

Hailing Egypt's steady growth rates, the US official believed Egypt was qualified to get more US investments.

Egypt is the second largest market for American exports after Saudi Arabia, according to Williamson.

Williamson, who is to head later for Syria as part of her regional tour, said the US deems Egyptian economy one of the strongest in the region, with 21 per cent of the US's overall investments in the region being funneled into Egypt, a Egyptian statement said.

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