Gulf investment funds back to Egypt

Egypt received billions of USD aids after Egyptian army's deposing Mohammad Morsi who was the first elected president and investors began to have confidence in the country after the takeover in Egypt, said directors of some fund and portfolio companies in Gulf countries. Gulf countries promised a 12 billion USD aid in a week after army's takeover in government despite Morsi who could not find adequate support although he tried to improve commercial relations with neighboring countries. Egypt bourse rose with the news of funds which will come from Gulf countries while serious decreases were expected. In a statement made by Finance and Fund Investment Department of Egypt bourse, it was stated that investors in Gulf countries acted to increase their positions and Gulf investment funds returned to Egypt. Director General of United Arab Emirates Vision Investment and Portfolio Management Company made a statement to Anadolu Agency and said, "Recently, our customers have begun to show interest in Egypt bourse. We prepare to buy investment funds on behalf of them. However, some of our customers expect the country to reach political stability." Director of "Aloula Geojit Capital", the investment and capital company of Saudi Arabia, Samir Said noted that the number of those wishing to invest in Egypt bourse increased after statements had been made about the fact that Gulf countries wished to aid Egypt, adding "Serious developments will occur in the economy of Egypt after the aids of Gulf countries and the country will attract other foreign capital owners. Egypt bourse will yield a big profit to investors in close and middle term."