Investment min, USAID director

Minister of Investment and International Cooperation Sahr Nasr met Thursday with Director of the US Agency for International Development (USAID) in Egypt Sherry Carlin and President of the American Chamber of Commerce in Egypt Tarek Tawfik.

The meeting took up the current economic cooperation between Egypt and the US and the implementation of projects funded within the framework of economic aid program, according to a statement of the Ministry of Investment.

The meeting also tackled activating new agreements inked between both countries last week with a total cost of $ 121.6 million in the sectors of health, education, drinking water, sanitation, agriculture and investment.

It also discussed allocating dlrs 30 million for the Egyptian American Enterprise Fund (EAEF) which aims at supporting small and medium enterprises and entrepreneurship.

The get-together discussed cooperation between the ministry and the American Chamber of Commerce to shed light on reforms taken so far to attract investments.

Nasr asserted the necessity to implement projects that would meet the needs of the Egyptians along with empowering youth and women economically, pointing out that the new agreements inked between both countries reflect strategic and strong ties between them.

Nasr said she is looking forward to increasing US investments in Egypt, adding that there are efforts to remove any obstacles facing US investors and companies.

On the other hand, Carlin asserted the depth of the Egyptian-US relations and the keenness of the US administration to present all support needed by the Egyptians.

As well, Tawfik said the US investments in Egypt represent 30% of the US direct investments in Africa, adding that the US companies see that investment climate in Egypt is attractive especially after the application of the new investment law.

Source: MENA