Egypt Targets $15 Bln FDI In FY 2017/2018: Investment Minister

Egypt is targeting $15 billionn in foreign direct investment (FDI) during the fiscal year (FY) 2017/2018, Minister of Investment Ashraf Salman announced during the American Chamber of Commerce conference on Monday.

Salman added that the target for gross domestic product (GDP) is 6% while the target budget deficit is to be lower than 10% of GDP.

Discussing the remaining goals for FY 2017/2018, Salman said that the government is “targeting to see the poverty rate lower than 20%”.

The minister of investment discussed the Investment Law saying that its core change is what is called the “one-stop shop”.

The minister added that the government seeks equal treatment for both local and foreign investments.

Source: Daily News Egypt