US investments in Egypt on rise

A recent report by the Egyptian Trade Office in Washington says that US investments in Egypt rose in 2000 to $ 2.735 billion, an increase of about 25 % over the 1999 figure of $ 2.19 billion.

Chairman of the Egyptian Trade Representation Authority, El-Said Qassem, said the substantial increase in US investments in Egypt was the result of persistent efforts by the authorities concerned, and the government's new incentives to encourage investors.

Qassem pointed out that Egypt is the fourth largest Middle East recipient of US direct investments after Saudi Arabia, Algeria and Israel.