Egypt expects $10bn in FDI next year | Egypt expects $10bn in FDI next year -

Egypt expects $10bn in FDI next year

: Monday, June 23 - 2014 @ 04:42

Egypt’s newly appointed investment minister, Ashraf Salman has said he targets $10bn in foreign direct investment (FDI) for the coming fiscal year and $14bn in three years, Reuters has reported. “I need FDI. It has a magical effect in creating jobs and lowering poverty,” said Salman in a TV interview with Egypt’s private CBC TV. FDI for Egypt’s first nine months of the 2013-14 fiscal year that starts on July 1 stood at $4.4bn. It was $3 billion in the year ended June 2013, almost $1bn less than in the previous year.

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Monday, June 23- 2014 @ 4:42 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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