Egypt's political, economic stability lures foreign investments

Egypt's Chairman of the General Authority for Investment and Free Zones Mohammad A1 Ghamrawi said the Egyptian political an economic stability is considered one of the most attractive factors for the foreign investments into Egypt.

El-Ghamrawi on Friday said there are great investment opportunities in Egypt, especially in the domains of natural gas petrochemicals, food industries, textiles and ready-made clothes.

During his meeting with Dedier Lombard, the special representative of international investment in France, Ghamrawi affirmed the importance of direct foreign investment in Egypt which, he said, would bridge the gap between local savings and the requirements of development.

Ghamrawi called on French businessmen to come to Egypt to establish joint ventures, benefiting from tax breaks offered by currently the new investment law.

Lombard, on his part, reviewed his country's experience in promoting direct foreign investments.