Egyptian and Moroccan investors signed an initial contract to set up a joint tourism investment project, reported Al-Hayat . The project consists of building a $100 million hotel and an integrated leisure city with $50 million in issued capital. The project’s final contract will be signed during an Egyptian Moroccan Joint Commission meeting, in the presence of the Egyptian president, Hosni Mubarak and Moroccan King Mohammed the 6th.
Official statistics show that the value of exchanges between Morocco and Egypt reached $56.2 million in 2000, up from $34.6 million in the previous year. The value of Egyptian exports to Morocco increased from $21.7 million to $42.7 million during the same period. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
