Head of the Egyptian Investment and Free Zones Public Authority recently stated that Egypt needs $6 billion worth of direct investment per annum in order to achieve a six percent annual growth rate.
He added that the national savings must be raised from present 18 percent to 25 percent of the national GDP, according to Al-Bayan daily.
Furthermore, he stressed the importance of regulating and protecting incoming foreign investments into Egypt so that the targeted growth rates can be achieved.
Last year, Egypt received $2.735-billion worth of American direct investments, reflecting a 25 percent increase compared to 1999, when it received $2.19 billion from the US. –(Mena Report)
© 2001 Mena Report (www.menareport.com)
