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Investment Ministry, AmCham cooperate to promote Egyptian economy to American financial community - Daily News Egypt

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Investment Ministry, AmCham cooperate to promote Egyptian economy to American financial community

We are working on finalising the comprehensive investment map for Egypt, says Nasr

Investment Minister Sahar Nasr agreed with the leaders of the American Chamber of Commerce in Cairo (AmCham) on a joint cooperation to promote the economic reforms adopted and implemented by the government to the American society.

Nasr met with the members of AmCham, headed by Tarek Tawfik. The meeting was also attended by a number of members of the US-Egypt Business Council (USEBC), headed by Omar Mohanna at the ministry’s headquarters in Salah Salem.

During the meeting, they discussed AmCham and USEBC proposals on the bylaws of the Investment Law. Nasr said that her goal is to put together bylaws that serve Egypt, stressing that she is interested in listening to the business community regarding their proposals.

AmCham and Nasr also talked about cooperation between the ministry and AmCham in promoting the reform measures taken to attract investments to various American institutions and organisations, which contributes to improving Egypt’s ranking in the Doing Business report and increasing American investments in Egypt.

The members of the chamber explained that, during their recent visit to the US, within the Door Knocking Mission, they met with various American institutions and held 87 meetings, including 54 with members of the US congress. They noted that they highlighted the new changes that were introduced in the investment climate in Egypt with the implementation of the economic reform programme, as well as the promising opportunities in the Suez Canal Economic Zone and the New Administrative Capital, pointing out that a number of American companies announced their desire to increase the volume of their investments in Egypt and expand their existing projects.

Meanwhile, Nasr said that the ministry is finalising the final investment map in various governorates in coordination with the concerned ministries and agencies to include all investment opportunities. This will enable cooperation between the ministry, AmCham, and USEBC in presenting these opportunities, in order to increase their investment in Egypt, especially in the framework of incentives provided by the New Investment Law for investors.

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