- Life Style
The Egyptian government is set to announce several large-scale projects over the next few weeks that will be implemented as part of a national development plan, Prime Minister Essam Sahraf said on Wednesday.
During a meeting with representatives of 30 US companies, Sharaf said investing in Egypt is guaranteed to generate revenue, adding that the state is committed to international agreements and to market mechanisms that uphold social justice and common interests.
He also said the government is making efforts to stamp out investment corruption.
The US delegation expressed appreciation for the Egyptian revolution and a desire to increase investments in Egypt.
The chairperson of Apache said his company will increase its investments in Egypt by US$1 billion next year, adding that other American companies will also likely increase their stake in markets here.
Lionel Johnson, vice president of the US Chamber of Commerce, said the organization is looking forward to bolstering economic relations with Egypt, adding that it would continue to pressure the US administration to develop trade with Egypt and to sign a free-trade agreement and create a new framework for cooperation.
Translated from the Arabic Edition