U.S. intends to pump more investments in Egypt – delegation

A delegation of former U.S. Congressmen expressed on Wednesday that the U.S. intends to pump more investments into the Egyptian market in light of the latest legislative reforms Egypt has undertaken.

Sahar Nasr with the U.S. delegation (Photo Credit: Egyptian Investment Ministry)

During a meeting with Egyptian Investment Minister Sahar Nasr, the U.S. delegation hailed Egypt’s national major projects, saying these projects are an opportunity that should be tapped for significant economic partnerships between the two countries.

The US delegation included Dana Rohrabacher, a former Republican congressman and the former chairman of congressional Friends of Egypt caucus, and Paul Behrend, a former congressman.

“A number of American companies intend to pump investments into construction and the plastics industry sector in Egypt, through building plastics material production plants, which will be eco-friendly and with low cost. The companies also plan to make partnerships with Egypt’s public and private sectors,”  Rohrabacher said.

For her part, Nasr emphasised strong strategic and economic ties with the U.S., praising the role of Congressmen in reinforcing partnerships between Egypt and the US, especially in the economic field.

“Egypt is working on attracting investment for its national mega projects, which meet Egyptian needs and have an added value. Furthermore, they create new job opportunities, especially for women and young people,” Nasr noted.

U.S. investment in the Egyptian market currently stands at $22.8 billion.

Source: Ahram Online