GCC to Inject New Investments worth $10 bln in Egypt by 2014

The upcoming year will witness the launch of new Gulf investments to Egypt with values exceeding US$ 10 billion in sectors of energy, petroleum and real estate, Amwal Al Ghad has quoted the Chairman of Egyptian-Saudi Business Council Abdullah bin Mahfouz as saying on Wednesday.

On the sidelines of the Gulf-Egyptian Investment Forum 2013 that kicked off on Wednesday, Mahfouz further said the investment climate in Egypt has become more positive, taking into considering the recent settlement of pending disputes with 19 Gulf firms.

Notwithstanding the more positive climate, Mahfouz has referred to the importance of reinforcing the legal standing to protect the investors’ capital in Egypt, adding that the Gulf countries will continue their support to Egypt within the upcoming phase.