US company plans to inject $ 5 billion in investments into Egypt within 5 years
CAIRO – July 8, 2021: U.S. Ambassador to Cairo Jonathan Cohen said a U.S. company plans to inject $ 5 billion worth of investments over the next five years.
The ambassador added that he is personally communicating directly with many US business groups, urging them to explore promising opportunities to invest in Egypt, according to a statement released Thursday by the finance ministry.
He said U.S. companies have pumped investment into Egypt to reach $ 1.5 billion by 2020, highlighting its aspiration to increase U.S. investment flows to Egypt to reach $ 2 billion during the year. current year.
Finance Minister Mohamed Maait stressed that we are keen to create an environment that encourages domestic investment and attracts foreign investment, thereby helping to attract more US investment in various economic sectors to Egypt.
The Minister added, during his meeting with the American Ambassador to Cairo, Jonathan Cohen, that they are working on the development and modernization of our tax and customs systems to keep pace with international standards, which helps to attract and to encourage investment.
The Minister underlined his concern to solve all the problems encountered by investments operating in Egypt, to stimulate investments in various sectors, to develop internal and foreign trade and to strengthen the structure of the national economy.
He also indicated his concern to consult the business community during the preparation of the draft customs law and its implementing regulations.
During the meeting, the two sides underlined the strength of the strategic relations between Egypt and America, and the concern of the political leaders of the two countries to strengthen joint cooperation in various fields.