American Chamber of Commerce in Cairo
Cairo –Akram Ali
The largest US economic delegation in history arrived in Cairo on Sunday to hold discussions and negotiations with Egyptian officials, businessmen and members of the American Chamber
of Commerce in Cairo. The delegation included about 117 businessmen who represent 50 major US companies, either already operating in Egypt or looking for investment opportunities to pump money into the Egyptian market during the coming stage.
Egyptian President Mohammed Morsi has assured the US business delegation that the financial and political situation of the country was stable.
Egyptian Prime Minister Hisham Kandil declared during the meeting that his country had a true comprehensive economic programme and that the government would borrow money to cover the deficit.
The US delegation expressed their confidence in the financial returns on their investments.
Kandil invited the American citizens to visit Egypt for tourism, especially southern Egypt and Cairo.
He also announced that the government will borrow money from the International Monetary Fund to support the poor and the middle class.
President Mohamed Morsi has given instructions to begin parliamentary elections by the end of this year in order to get political stability.
Head of American Chamber of Commerce in Cairo Gamal Muharram said that it is the first time in the history of the American Chamber of commerce to host such a large delegation. It is also the first time that an American delegation outside US combines such a large number of businessmen who all work in the fields of direct investment. The delegation does not include investors in the stock market, for example, which shows their keenness to pump money into the Egyptian market.