Foreign investors to set up projects in Egypt
Egypt, Economics, 2/20/2002

A report on the performance of Egyptian trade representation offices abroad predicts the implementation of a host of investment projects from Canada, Germany, Thailand, Malaysia and Cyprus in the near future.

It adds that the expected projects have been inspired by the many incentives and advantages offered by the investment climate in Egypt.

The report, which was submitted to Minister of Foreign Trade Dr. Youssef Boutors Ghali, examines the ways that the offices attract investment to Egypt.

It says that the Montreal office is following up measures to implement a contract signed with a Canadian company to establish a solid waste recycling plant at a cost of $ 10 million.

Work is expected to start on the project in the second half of this year.

The trade office in Athens is working intensively to facilitate approval for a Greek company's plans to launch an aluminium project in Egypt, with a total investment of $ 25 million.

Also in the pipeline are two Australian projects for the manufacture of paper and oils, worth a total of $ 63 million.

The report also mentions a meeting at the New York office between Egyptian and American businessmen to discuss how Americans of Egyptian origin could enhance exports to American markets.

Previous Stories:
  Egypt to receive soft loan worth $ 56.1 million from Arab fund   (2/19/2002)
  Gap between resources and foreign exchange utilizations to be filled   (2/19/2002)
  New sectors attract FDI investments   (2/19/2002)

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