Egypt targets FDI worth $10 billion this financial year: minister

Egypt is targeting $10 billion in foreign direct investments for the current financial year, the country’s investment minister Ashraf Salman said Sunday.

Salman made these remarks during his keynote speech at Real Estate Industry in Egypt: Challenges and Opportunities Conference held Sunday and organised by the American Chamber of Commerce in Egypt.  The conference was attended by Anis A. Aclimandos – chamber’s president- and members of chamber.

The targeted FDI will be backed by growing direct investments Egypt has witnessed during the first quarter, the minister added.

Egypt’s economy grew by 4.1 percent in the financial year that ended in June and projected it would grow by 5 to 5.2 percent in the year to next June, the minister added.