Housing minister to UAE envoy: Egypt works to lure more investments

Minister of Housing, Utilities and Urban Communities Mostafa Madbouli said the government is seeking to provide a climate to lure investments

In statements following his meeting with UAE Ambassador in Cairo Gomaa Mubarak el-Ganebi on Monday, the minister said liberalization of exchange rate and the new investment laws that are about to be approved by the government would contribute to creating a climate that lure more investments.

He also asserted that Egypt welcomed all Arab countries and their investments in Egypt.

The minister also asserted that Egypt and UAE have established deeply-rooted relations and would welcome any bid to bolster bilateral ties.

The UAE ambassador for his part voiced happiness over his presence in Egypt, highlighting the importance of Egypt for the whole Gulf region.

He asserted that UAE investors are been directed to increase their investments in Egypt to support its drive for economic development.

Source: MENA