Egypt Cabinet Says seeking to Attract New Investments

Cabinet Spokesman Ambassador Alaa el-Hadidi said in a press statement that the meeting of the economic group headed by Prime Minister Dr. Hisham Kandil on Monday 27/5/2013 focused on reaching a financial settlement between the ministries of oil and electricity to decode what-called financial clash between various ministries.

Hadidi said that setting such specific mechanisms for cooperation between the two ministries aimed to provide sources of energy needed to run the power plants to end power outage crisis witnessed in some areas during the last period.

He said that the prime minister also reviewed during the meeting a number of reports about the progress of work in the ministries concerned.

Hadidi added that the economic group also discussed a number of recent actions taken by the government to encourage investment and restore confidence in the Egyptian economy through activating the dispute resolution committee to reach reconciliation with businessmen who want to adjust their situation after fulfilling the right of the state.

SIS