Egypt eying USD10bn in foreign investment as it upgrades infrastructure
Egypt is hoping to attract USD10bn in FDI next year, from USD6.8bn in FDI in FY15/16, after big upgrades to ageing road and power infrastructure, CEO of the General Authority for Investment and Free Zones (GAFI) Mohammed Khodeir said, adding that the targeted FDI might come in dollars, but all of it would be fresh investment. There is a plan to automate the process of establishing a company, he said. (Reuters)
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