Cairo – Mubasher: Egypt's Ministry of Investment and International Cooperation is cooperating with the General Authority for the Suez Canal Economic Zone (SCZone) to attract domestic and foreign direct investments (FDI) worth more than $30 billion, minister Sahar Nasr said on Tuesday.
These investments over five years include infrastructure projects and public utilities, and providing about 1 million direct and indirect job opportunities, Nasr added, noting that the ministry plans to attract investments in projects like the New Administrative Capital.
The ministry is also discussing with the Ministry of Housing and Urban Communities the offer of China Fortune Land Development Co (CFLD) to invest in the infrastructure of the New Administrative Capital.
The expected inflows of accumulative FDI by the fifth year is estimated at $6.7 billion.
Egypt aims to attract investments between $13 billion and $15 billion in the coming fiscal year, while the expected investments in the current fiscal year amounted to $10 billion.
