Egypt: Investment Minister – Petrochemicals Project in Gulf of Suez With U.S. $7.5 Billion Investments

Minister of Investment Ashraf Salman met with representatives of the US imports and exports bank, representatives of the Korean imports and exports bank and a number of US, Italian and Korean financial institutions, where they discussed establishment of a petrochemicals project in the Northwest Gulf of Suez with an investment cost reaching USD 7.5 billion.

The Minister reviewed the economic and investments indicators during the past period, saying that the value of foreign direct investment reached nearly USD 3 billion during the first half of the current financial year.

Also, Minister Salman held talks with Heba Salama, the Chairwoman of the Regional Agency for Investment, a COMESA affiliate, on means of promoting economic cooperation and increasing investments between Egypt and other African countries.

Salman reviewed at the meeting vistas of economic integrity between Egypt and other African countries along with capitalizing on investment opportunities in Egypt.

The two sides also discussed the possibility of holding an investment economic forum for the COMESA member states in Egypt in October.

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