Egypt records increase in British investments – PM

Total British investments in Egypt surged to $5.1 billion during the past Fiscal Yar (2013/14,) marking an increase of 28 percent compared with $4 billion a year earlier, Egyptian Prime Minister Ibrahim Mahlab said Tuesday in his speech at the conference of the British-Egyptian Business Association (BEBA) held in Cairo.
Mahlab invited British investors to participate in Egypt’s upcoming Economic Summit that is due to be held on March 13- 15 in Sharm el-Sheikh.

“The government has revised a package of new investment laws, and the New Investment Law will provide more flexibility through creating the “one-stop shop� investment window system, in addition to an investor protection law,� Mahlab added.

He said that the Economic Summit will witness the launch of the 4-Year Investment Program which will highlight the potential investment in Egypt.

Speaking at the conference, the UK Minister for the Middle East and North Africa Tobias Ellwood said the British economic mission which is visiting Egypt demonstrates Britain’s commitment to boost international investment in Egypt and increase trade between the two countries.