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Egypt has mapped out 2,723 investment opportunities across the country, a top government official said.
Mahmoud Abdel Rahim, representative of the Egyptian General Authority for Investment and Free Zones, told an Islamic finance conference in the Southern Egyptian port of Sharm El-Sheikh that the third edition of the Authority’s investment map is targeted at international and local investors.
He said the map highlights 2,723 opportunities for investment across the country, noting that 50 percent of the incentives seek to direct investments to the less-developed areas of the country.
Meanwhile, Egypt’s Ministry of Public Business Sector Hisham Tawfik said his ministry is planning to sell stakes ranging from 20 to 30 percent in a group of successful hotels, which includes Cataract [Sofitel Legend Cataract Hotel] and Marriott [Marriott Mena House Cairo Hotel].
(Writing by SA Kader; Editing by Seban Scaria)
