Egypt welcomes foreign investments

Egypt's Minister of Industry and Trade Mounir Fakhry Abdel-Nour said Egypt welcomes Arab and international investments in order to pave the way for new job opportunities for Egyptian youth. Abdel-Nour said to Arab Today, that the government fully honours the agreements it has made or contracts it has signed with various different countries. The finance minister highlighted the need for cooperation between the different political parties, to restore confidence in Egypt. According to Abdel--Nour, recent unrest has caused a notable decline in foreign investments. “The finance ministry will work towards amending a number of legislations and scratching laws that are currently hindering investments,” he said, adding that some of these laws are over a hundred years old. Abdel-Nour explained that these amendments will revive his financial project The Will which was abandoned several years ago for unknown reasons. He concluded by saying his ministry is very keen to provide the necessary land for industrial development to resolve the energy problems as well as finding alternative energy sources.