North Sinai victim of new attacks against Egypt authorities. On Monday, two policemen had been killed, and 5 people injured in Nasr City. The attack happened on a checkpoint of the city. Attack is vindicated by a new-born terrorist group, named “the Hawks of Determination”. The terrorist group announced the death of 6 people, and has promised to publish a video of the attack on social media, soon. The group, form in 2016, has vindicated other similar attacks since June 2016 in the region. However, even if this attack show insecurity in North Sianai, we need to underline that according to the latest report by the Tahrir Institute for Middle East Policies (TIMEP), the number of terrorist attacks in Egypt decreased in the last quarter of 2016 to 168, compared to 209 in the third quarter, with 92 percent of the attacks taking place in North Sinai.
Nasr’s visit to US continues, and economical meeting also. Minister of Investment and International Cooperation Sahar Nasr participated in a meeting held by Hermes Group in New York, where she met with representatives from investment banks. Nasr told to international investment group, the hard work of her government to improve investment climate in Egypt. She added that Egypt has made some serious reforms in order to attract foreign investments, which improved the economic environment and the economy’s main indicators. The government adopted a reform programme that focuses on raising the rate of growth and creating jobs.
The Minister of Investment and International Cooperation Sahar Nasr held a meeting with the World Bank’s vice president, Jan Walliser, during her current visit to Washington to attend the bank’s spring meetings. Egypt minister, talked about the allocation of the third tranche of the loan ($1bn), from World Bank to the country. Furthermore, Nasr said that the government wants the World Bank to expand financing to develop projects in Upper Egypt, which were originally financed with $500m, as well as to consider establishing more labourintensive projects by allocating finances worth $150m.
Sahar Nasr, Minister of International Cooperation, announced that the government is continuing its negotiations with the G-8 countries to fulfill their commitments toward supporting the economic and social reform program signed by Egypt and the International Monetary Fund (IMF). Nasr has announced an agreement with the French Development Agency, and she will be to Berlin on Friday to discuss other agreements with Germany. It was also an agreement with Great Britain, and Japan. Egypt trying to install its international position on economical fields.
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.