MOF To Facilitate Foreign Investments

Momtaz El Saeed  – Minister of Finance- assured that the government is very keen on providing all of the facilities needed to pave the investments way, as well as resolving all problems faced by Arab and foreign investments in Egypt.

Momtaz mentioned that the government’s current direction indicates the attraction of more direct foreign investments to operate in Egypt, and this direction stems from its belief of the important role played by these investment, as it pumps new money in the Egyptian market, which results in stimulating and developing the Egyptian economic and social situations.

The minister stated that during his meeting with the Greek ambassador “Christodoulos Lazaris“, as that meeting aimed at discussing the cooperative opportunities between Egypt and Greece, as well as removing any obstacles hindering the operations of the  Greek companies in Egypt.

Momtaz said that he will conduct investigations of taxation problems facing the Greek partnerships of cement companies, which operate in Bany Soueif and Alexandria, as the ambassador mentioned the difficulties faced by these companies while dealing with the tax authority.

Lazaris confirmed that the Egyptian revolution participated in increasing the Egyptian Attraction of international investments, as he declared that many Greek and European companies desire to shift parts of their investment operations to Egypt, as soon as the political and security situations retained again.

The ambassador also said that, although the problems and financial difficulties faced by Greece, the number of Greek companies operating in Egypt has rose during 201, and he added that the total value of Greek investments in Egypt increased significantly, as the number of Greek companies in Egypt reached 130 company with an increase of 22 company, and this resulted in placing Greece as the sixth country regarding the size of Investments in Egypt.