Foreign investments rate up by 13 per cent in New Year report
Egypt, Economics, 1/8/2001

"The foreign investments in Egypt are expected to increases' by 13 per cent this year against 19.3 per cent last year," a report by the Ministry of Economy said.

It indicated that the foreign investments fluctuated before the economic reform policy as it went down to LE 243 million in 1990 against LE 529 million in 1988. The foreign investments hit LE 5103 million with a growth rate of 58.4 per cent and 20.2 per cent of the total.

The report said added that the remarkable increase in the volume of these investments is attributed to the state's efforts to clear the investment climate, including removing all obstacles impeding importing certain goods thereport added that the foreigners were given the right to own land and projects.

It highlights the trend to focus the coming investments on high technological quality products according to the international standardization.

It recommended drawing up a comprehensive plan to promote the country's exports and removing the bureaucratic obstacles.

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