Egypt Did Not Receive An Emirati Deposit To Replace The Qatari: Minister

Egypt’s international cooperation minister Naglaa El-Ahwani said that reports regarding an Emirati deposits replacing the Qatari deposit in the central bank were untrue, AlAhram Gate reported.

She added that the government is committed to its international obligations and able to return any deposit without any delay or impact to the foreign reserve.

The central bank will return $500 million on maturity in a few days, the minister revealed.

El-Ahwani said that Egypt will not refused any new investment based on the nationality of its owner and that its not allowed to punish people on the international political tensions or political positions of their countries.

The government will not object any Qatari investors’ participation in the Suez Canal Development projects in light of transparency and commitment to contract.

The international cooperation minister said that the government is waiting the final plans for the Suez Canal Development project after an international  Think tank finishes it, which will be the first time the state resorts to the use of a think tank in putting a complete investment plan for development.

The Egyptian economic summit will be held in February in Sharm El-shikh will not be the initial presentation of the investment opportunities in Egypt but will be the finalization of the negotiation with the development partners to attract new projects to Suez Canal.

Source: AlAhram Gate & Arab Finance