US embassy in Cairo hails increase in Egyptian investments

The annual report released by the US embassy in Cairo confirmed the increase of investments by the Egyptian private sector in projects for navigation, communications, and aviation, in addition to the spread of working by the B.O.T (build-operate-transfer) system, which is considered a positive indicator of progress toward the implementation of privatization by the Egyptian government in all fields, which began in 1986.

The report recorded that the Egyptian budget for 1999/2000 has specified more investments to boost social insurance programs in fields of education, health care and housing.

Egypt and the US are also about to endorse an agreement for upgrading trade and bilateral finance as a main step towards endorsing a free-trade agreement between the two states.