Foreign investments rise in Egypt

International reports asserted that Egypt's investment climate is improving and the rate of foreign investments in the country is on the rise.

The report "Investment in the World in the year 2000" released by the UNCTAD, said Egypt's quota of the direct foreign investment went up by $ 400 million in the year 2000 to figure a total of $ 1.5 billion.

The report added that Egypt's rate of growth and privatization programme led to that increase in investments especially in both tourism and communication sectors.

Moreover, another report issued by the World Bank praised the efforts to liberate trade and achieve the economic reform leading to an increase of the gross domestic product by 3 per cent.

The report also highlighted Egypt's rate of growth as the highest in the area due to a rise in tourism revenues and an improve in the current account.