Egypt’s PM Hisham Qandeel announces new policies to attract foreign investment.
Egypt’s government, despite a debilitating political crisis threatening the shutdown of the country, announced over the weekend that it was implementing a series of new policies aimed at boosting foreign investment in the country.
Prime Minister Hisham Qandeel said that Egypt was committed to enhancing “the business environment in the coming period and its commitment to all international agreements in all areas.”
He said that Egypt will apply policies that “will overcome problems and remove obstacles in face of promoting trade and investment, thus making Egypt an ideal destination for foreign direct investments.”
His comments came during a video message Qandeel delivered to the National United States-Arab Chamber of Commerce and business leaders in the United States during a meeting organized by the National US-Arab Chamber of Commerce and the Egyptian trade representation office in Washington to welcome Egypt’s Ambassador to the United States Mohamed Tawfiq.
Qandeel noted that the promotion of investment and mutual trade with the United States “will be crucial for all world countries in the coming period,” pointing out that Egypt in the past year “welcomed many US delegations, on the official and economic levels, where business investment and job creation came on the top of their agendas.”
Qandeel added that the trade exchange between Egypt and the United States reached $8.2 billion in 2011, while the US investments in Egypt reached $14.5 billion.
