Egypt: Raises 20 percent of Egyptian communication companies for sale

The Egyptian government agreed on raising 20% of the communications companies and categories from the petroleum refinement and distribution companies as well as some of the business sector companies - for sale till end of the current year.

These decisions aim at providing 9 billion L.E to confront the liquidity crisis from which Egypt is currently suffering.

Egyptian Minister of the Public Business Sector Mokhtar Khatab said there are studies for adjusting the investment law for attracting more Arab and foreign investment as well as increasing implemention of projects based on the B.O.T (build-operate-transfer) system.