The Minister of Investment and International Cooperation Sahar Nasr held two meetings, one with Hussein Shobokshi, Saudi investor and chairman of Naeem Holding Company, and the other with the head of Majid Al Futtaim Egypt, Abdalla El-Nockrashy, to discuss increasing their investments in Egypt. Meetings had been fruitful, indeed, Shobokshiaid his company got the approval of establishing the first real-estate fund in Egypt, and its first investment tranche is worth EGP 1bn. He also discussed with El-Nockrashy the ways of increasing his company’s investments in Egypt. The minister stated that she is consulting with international institutions in order to improve the investment atmosphere. Globally Egypt is becoming an Economical power, for its area but also further.
Egyptian Minister of Finance Amr El-Garhy will go in London to meet IMF’s authorities to prepare their meeting in Aprile in Egypt to discuss about the second tranche of the loan. This plan was decided the 11 November to sustain Egyptian economy. “We will hold some meetings with various banks to discuss several issues, including investment in treasury bills and bonds,” said El-Garhy. The floatation of the Egyptian currency has created an increase of foreign investments in the country, but also social problems. So globally, Egyptian economy seems to improve his economy at international level, even if this evolution has created negative feedbacks, especially on social matters.