Investment minister meets with several US investors

Egyptian Investment Minister Sahar Nasr, currently in Washington to attend the annual meetings of the World Bank, held a number of meetings with US investors and representatives of US companies to mull cooperation in the energy, petroleum and industry domains.

Nasr is leading a delegation to Washington comprising head of the Egyptian bourse Mohamed Farid, head of the Egyptian Financial Supervisory Authority Mohamed Omran and two of the minister's aides for economic affairs.

Sahar, who arrived in Washington on Wednesday, told the US investors that the new investment law in Egypt guarantees transparency and accountability, stressing that Egypt has all qualifications to be an investment-magnet country, according to a statement released by the Investment Ministry.

She said the Egyptian economic reform program aims at increasing growth rate and improving investment climate, citing a 14.5-percent increase in the country's investment rate compared to last year.

She added that the government is working hard to remove all hurdles blocking investors.

She reviewed government's efforts to improve the investment climate, including enacting new laws, activating investment conflict settlement committee, e-linking all bodies dealing with investors and fighting bureaucratic procedures.

The US investors lauded the economic reform program in Egypt and the latest legislative measures meant to improve investment climate.

They expressed desire to increase their investments in Egypt within the coming period.

On the sidelines of her participation in the World Bank meetings, Nasr will hold talks with a number of WB and International Finance Corporation officials.