Dr. Nasr: “There are unprecedented incentives and guarantees for investors.”
Deutsche Bank Delegation member: “We support Egypt to attract more investments.”
The Minister of Investment and International Cooperation Dr. Sahar Nasr met with the Deutsche Bank delegation during its visit to Egypt, including representatives of several German funds. Discussions revolved around encouraging German Funds to invest in Egypt, as well as cooperation in the field of investment policies and enhancing the private sector’s role in the socio-economic process in Egypt, besides increasing the Deutsche Bank’s role in fostering an attractive climate for the private sector and foreign investors, which would ensure sustainability of national development efforts. Dr. Nasr stressed that the new Investment Law provided unprecedented guarantees and incentives to investors, noting that Egypt enjoyed all the required potential to attract investments, such as quality and competition. Further, the Investment Law paid due regard to social dimensions, supported transparency, disclosure and governance principles.
Dr. Nasr pointed out that the new Investment Law aimed to facilitate procedures for investors and lay deadlines for finalizing them, besides the rapid settlement of disputes, which would ensure the stability of investment policies and give way to the prevalence of good governance and transparency. She added that there were major investment opportunities, such as the Suez Canal Zone Development Project and the new Administrative Capital. The investment map further offered over 600 investment opportunities in different governorates in Egypt, ascertaining that Egypt was at the forefront in terms of return on investment. It enjoyed several investment privileges, particularly its large promising market. It was also a gateway to a huge regional market, namely the Arab World and the African Continent.
The Deutsche Bank Delegation explained that the Bank was optimistic about economic reforms carried out by the Egyptian government. They reiterated the Bank’s support of Egypt through the rapid injection of new investments, noting that Egypt was in a good position to attract more investments.