ICEC

Foreign firms in Egypt achieve 40% profitability rates annually – c.bank chief

Foreign companies operating in Egypt achieve profitability rates ranging between 30 percent and 40 percent per year, the country’s central bank governor told a conference on Tuesday.

This reflects the importance and richness of the Egyptian market, Tarek Amer said.

“Egypt doesn’t need aids but work and the reception of more local and foreign investments,” Amer said, calling the country’s private sector companies to have confidence in the strength of the local market after the recent economic reform measures.

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