New plan to promote available investments in Egypt’s Matrouh – official

Marsa Matrouh governorate adopts new plan to promote the available investment opportunities in it in cooperation with competent authorities, Governor Alaa Abou Zeid announced Saturday.

Governorate’s new plan also aims at applying the single window system to facilitate the procedures for investors and attract new capitals to enhance governorate’ economic development, Abou Zeid stated Saturday during his speech in the Egyptian International Economic Conference of Matrouh Governorate

Egypt is holding Saturday a two-day investment conference in Marsa Matrouh, 524 kilometres (325.6 miles) west of Cairo.

The General Authority for Investment and Free Zones (GAFI) is holding the first conference in Marsa Matrouh on October 24-25, 2015, titled “Matrouh: the Future of the Investment”. The conference is seeking to showcase unprecedented investment opportunities to Egyptian, Arab and foreign investors.

The governor stated that Matrouh’s Economic Conference represents the major well of Egypt’s political leaders to encourage investing in Egypt and starting new development in the governorate to create better future through making use of its resources; mineral, petroleum, agricultural, industrial and touristic.

The Egyptian Prime Minister Sherif Ismail, Minister of Investment Ashraf Salman, as well as some other ministers and GAFI’s head Alaa Amr will attend Matrouh conference.

Additionally, a number of foreign and Arab ambassadors and business men will be present in the conference.

The conference will witness signing the contracts of two tourist projects such as developing Agiba with total cost of US$3 billion and Romel beach with total cost of US $4 billion in addition to other industrial projects that will cost US$5 billion.