$300bn Investments expected in Egyptian market
Federation of Egyptian Industries
Cairo - MENA
A Federation of Egyptian Industries (FEI) official said on Monday that 300-billion-dollar investments are expected in the Egyptian market within the coming period.
These investments will be pumped into the market thanks to the package of economic reforms adopted by the government, especially the liberalization of Egyptian pound and the application of the new investment law, Mohamed al Bahai, head of the taxes committee at the federation, said in statements on the sidelines of the second "Revamping Foreign Trade".
He lauded the decision to float the Egyptian pound, saying it contributed to increasing the competitiveness of Egyptian exports.
He expected the exchange price of the US dollar to inch down in 2018.
He called for applying the rest of the investment law privileges to end bureaucracy that blocks any business.
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