Egypt needs annual investments of $15bn

Businessman and Chairman of the Egyptian Steel Ahmed Abu Hashima said on Thursday that Egypt needs annual investments worth 15 billion US dollars rather than the local ones carried out by the government and the Egyptian private sector.
"Through those investments, Egypt can achieve a 6-7 percent growth per year," Abu Hashima told MENA on the sidelines of his participation in Egypt Economic Development Conference (EEDC) which will kick off on Friday.
The three-day conference will be inaugurated by President Abdel Fattah El Sisi, and will be attended by representatives of more than 80 countries and 2,500 investors from all over the world.
"Egypt is capable of luring doubles of these investments given that it possess the economic potentials necessary for the success of any project in various fields and that it is an unprecedented consumptive market," he added.
He pointed out that the EEDC is a message to the world that Egypt has become attractive to investments and should be placed on the global investment map.
Source: MENA