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First Egyptian International Investment & Trade Summit 2003 to be held at Grand Hyatt Hotel, Egypt

Egypt: Tuesday, September 23 - 2003 @ 11:59

This event is being organized in association with General Authority for Investments and Free Zones (GAFI) and hosted by the Egyptian Ministry of Foreign Trade.

This conference will discuss a variety of issues pertaining to the international and regional investment sector such as new banking laws and monetary policy and its implications for investment. In addition to this other main areas to be addressed are information and communication technology (ICT), investment banking, the future growth of the travel & tourism sector, privatization & free zones, health & pharmaceutical sector and investment protection.

To date Egypt’s record of attracting FDI has been very strong and over the past decade investment is now one of the major sources of capital flows. Egypt is now well placed to attract additional foreign investment given the success of its stabilization program and the strength of its economic recovery. To date the country has seen 192 companies privatized between 1993 and 2002 year-end, for a net value of £E 17 billion.

Currently, there are 819 companies slated for privatization in Egypt, 43 of which are currently on the market. With the privatization program being push forward to attract investors, Government sources know that this can only happen if investors are enticed with incentives -such as flexibility in dealing with debt settlement and excess labor, valuation of land based on nearest industrial zone prices and offering long-term leasing with option to buy. Egypt Invest will have many of these questions discussed and developed.

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Tuesday, September 23- 2003 @ 11:59 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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