Egypt seeks $ 3 billion foreign investments, UNCTAD says

A report released by the United Nations Conference on Trade and Development (UNCTAD) said there are expectations that the inflow of foreign investments into Egypt will go up amidst efforts exerted to reach a rate of growth of 5 per cent and a low rate of inflation with more contributions made by the private sector.

The report, said the government is seeking to score a rate of growth of 7 percent and lure foreign investments estimated at $ 3 billion.

The report praised Egypt's potentialities that helped taking capital from many countries in a way that pushed the country to occupy a leading role in the world's investment map.

The rate of the foreign investments reached 14.2 per cent of the Gross Domestic Product (GDP).

The tourist and software industries make up the main fields that could absorb the foreign investments.

The report called on the government to focus on infrastructure, education and technology projects set up on the B.O.T (build-operate-transfer) system.