Economic Report Indicates Success of Sharm El-Sheikh ConferenceSource: www.export-egypt.com 4/8/2015, Location: Africa |
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An economic report showed optimism for the outcomes of Egypt's economic conference in Sharm El-Sheikh to push economic development in the coming period after direct investment agreements, memoranda of understanding, and strong support for the Gulf States to enhance the capabilities of the Egyptian economy.
The report issued by EFG Hermes on 7/4/2015 came under the titled "The Harvest of Egypt Economic Conference, a New Start for the Future". It said the total agreements and aid for the conference came to some $ 185 billion. The report said that the Gulf aid announced by both the UAE and Saudi Arabia, Kuwait and Oman amounted to some $ 12.5 billion and will provide space for the government to take the necessary preventive measures until the resumption of direct foreign investment. The report explained that the government has studied more than 120 projects in the framework of preparations for the conference, 52% of them in the sectors of transport and logistic support, housing and utilities. A final list of 60 projects will be prepared. |
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