Tourism, software sectors prime attraction for foreign investment

A UN report highlighted Egypt's economic potential and efforts to achieve an annual growth rate of seven per cent by attracting foreign capital.

The UN Conference on Trade and Development (UNCTAD) paper said Egypt's low inflation and contributions to the private sector could help it lure the targeted seven per cent growth and $3 billion in foreign investments it seeks.

It noted that foreign investments in Egypt had reached 14.2 per cent of GDP and the country's tourist and software industries were posed to absorb even more foreign capital.

The report urged the government to focus on infrastructure, education and technology projects established under the BOT (build, operate, transfer) system.