Egypt eyes $10bn foreign investments in 2016- investment minister

Egyptian government eyes attracting foreign investments estimated at US$8-10 during 2016, Investment Minister Ashraf Salman stated Saturday.

He made these remarks during the conference to lay the cornerstone for dairy and juice maker Beyti’s new juice factory in Nubariah region with investments of one billion pounds.

He added that all Egyptian ministries are coordinating with each others , including finance ministry and Income Tax Authority, to accelerate any procedures that participate in overcoming all obstacles that face foreign investments.

Salman pointed out that the amendments to investment law is a key factor for achieving this goal as they are expected to solve the ‘historic problems’ that Egypt suffered from for too long.