Morsi Expects More U.S. Investment To Boost Egyptian Economy

Egyptian President Mohamed Morsi met Sunday with a visiting U.S. economic delegation led by Under Secretary for Economic Growth, Energy and the Environment Robert Hormats to discuss increasing investment in Egypt, official news agency MENA reported.

“Morsi asserted the stability of domestic conditions and the political structure in Egypt after its democratic transition,” said presidency spokesman Yasser Ali.

In a press conference after the meeting, Ali said the president noted the strong foundation of the Egyptian economy and its capability to absorb big investments.

Hormats said Morsi gained support of the basic parties in U.S. for his work, particularly his efforts towards democracy.

“The American businessmen expressed their confidence in the economic revenues for investments in Egypt in fields like agriculture, industrial and tourist,” Ali added.

For his part, Hormats said Morsi’s talks about incentives of investment in Egypt sent a message to the international society that Egypt was able to manage huge investments from multi national companies, added Ali.

The delegation, which is currently under a four-day visit in Egypt includes 117 U.S. top businessmen representing 50 American companies who either work in Egypt, or still search for investment opportunities to pump capitals in the Egyptian markets in the coming period.

Xinhuanet