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Egypt expects $10bn in foreign investment
- Egypt: Wednesday, September 30 - 2009 at 10:16
Egyptian Investment Minister Mahmoud Mohieldin said he believes the government will attract about $10bn in foreign direct investment in the current fiscal year, up from $8.1bn the previous year, Bloomberg has reported. The government will promote 52 infrastructure projects to foreign investors, including Asian and Gulf Arab sovereign wealth funds, he said. The government expects growth of more than 5% in the fiscal year through June 30 and is drafting a law to encourage companies to invest in infrastructure, he added.
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StaffWednesday, September 30 - 2009 at 10:16 UAE local time (GMT+4)
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