Electrical apparatus appliances establish the Fund of Nile investment

Atef abdelmomeen, chairman of Electrical apparatus appliances & supplies industry, say they will  establish the Fund of Nile investment  with a capital $ 1 billion. He also mentioned that there is no funding paid up to 150 million dollar, from Bank du Caire, Banque Misr, Egyptian National Bank and they are now studying various  projects in different fields.

During his meeting with Ethiopian Ambassador said that there is a difficulty in information collection blaming the commercial representation of Africa. He said the Egyptian investments in Ethiopia are 400 projects with capital one billion dollar, Egypt will double its investments there during the next year from the Egyptian businessmen who are investing abroad.

Mahmoud Eldardiry Ghedy, the Ethiopian ambassador, said all the chances of the investments  in Ethiopia especially industry and agriculture , 85% of the Ethiopian are working in agriculture , the country encourages the agriculture, textile ,leather and constructions industry, he said the only sea port is with  Djibouti, and the Egyptian refused passing throw it because of the high cost of transportation and that weak the quality of the production and competition, another countries use this port like , that Ethiopia import from them.