Egypt eyes $10b FDIs in 2yrs

12 Feb 2008

(MENAFN) Egypt is targeting to attract foreign direct investment (FDI) worth of $10 billion during this fiscal year and the year to come, Reuters reported.

Economic Development Minister, Osman Mohamed Osman, said that the government has put a target of $10 billion in the next two years, noting that Egypt’s fiscal year runs from July to June.

The minister added that Egypt’s economy, buoyed by rising exports, is expected to grow by 5.5 percent in fiscal 2010-11 and the $10 billion FDIs would help the country recover from the shadows of the financial crisis.

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