Minister of finance in London to support investment in Egypt

Ahram Online, Thursday 24 Mar 2011

Egyptian Finance Minister Samir Radwan gives an overview of investment opportunities on Friday in London

Samir Radwan, minister of finance, will give a keynote speech on Friday, 25 March, at the closing session of the 4th Annual Egypt Capital Markets Day Conference (CMD), according to a press release.

The gathering, held under the banner “Investment Opportunities in a New Egypt,” began Thursday in London and is organised by leading Arab investment bank EFG-Hermes in cooperation with the London Stock Exchange.

“The conference is set to discuss potential investment opportunities in Egypt, particularly in sectors including energy, manufacturing industries, financial and industrial investments, real estate, tourism and the telecommunications sector,” said Radwan before boarding his flight to London.

Some 70 buy-side investors from 55 institutions will meet with representatives of 16 top Egyptian companies who have an aggregate market cap of $24 billion.

Companies represent industries ranging from food and financials to industrials, real estate and hospitality, and telecommunication services.
“The government is keen to reassure the international community that Egypt is open for business,” said Radwan, adding that “Indeed, our expectation is that the emergence of true democracy in Egypt will only make our nation more stable, more dynamic and hence more attractive to global investors.”

The finance minister will also highlight a number of national megaprojects targeted by the government for the coming period as it helps create promising investment opportunities and enhances the Egyptian economy’s growth potential, including the Development Corridor Project, East Port Said Development Project, Farm Irrigation Development Project and the Solid Waste Management Project.

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