Egypt's attractive investment opportunities

Prime Minister Atef Ebeid said the government is prepared to shoulder initial costs of preparations for opening foreign markets before Egyptian exports, adding that Egypt is prepared to accept the effective supervision by foreign importation offices on rehabilitating the Egyptian products for exportation.

Addressing the Eighth Conference of Businessmen and Egyptian expatriates, the Prime Minister called on the participants in the Conference to provide their homeland with their experience in opening foreign markets before the Egyptian products on one side, and to facilitate tourist inflows into Egypt, on the other.

Addressing the Egyptian Businessmen working abroad, the Prime Minister said "We are in need of your efforts and ideas for increasing our share of world trade".

He said the progress achieved so far in the field of exportation is still moderate and is not consistent with our exportation potential.

Atef Ebeid said added "trade is made through merchants and so we are prepared to open offices for them, and we are prepared to shoulder the burdens of enhancing our existence on foreign markets".

The Prime Minister said Egypt offers investors incentives which are not available anywhere adding that we have attractive investment opportunities, but financial inflows are still below the levels we aspire for.

Reviewing the accomplishments which have been achieved in the field of economic reform, the Prime Minister said financial discipline has been maintained through narrowing the gap between resources and expenditures adding that the key goal of the government is to control the deficit in the public budget.

Ebeid said the ratio of the deficit has exceeded that envisaged before but it is still in the limits accepted at the domestic and world levels.

"The Egyptian economy has absorbed extraordinary changes in supply such as the decline of oil revenues and non-development of exports," he added.

"The government has moved quickly for increasing foreign exchange inflows and is determined to maintain balance in the foreign exchange free market," Ebeid expounded.