10 billion pounds invested in Egyptian gold market

The World Gold Council expects that foreign investments of $1.5 billion will enter Egypt in the current year in the field of manufacturing and designing gold products if the sale tax on gold industry is changed.

Samah Nabeel, the press spokesman of the council in Cairo, said that Canadian, Lebanese, Saudi and Swiss investors have the desire to invest in this field, but they are waiting for the adjustments in the field of applying the value-added tax during the coming three months.

Samah added that investments in the gold industry in Egypt currently amount 10 billion pounds.