Egypt to Allow Foreign Direct Investment in Sinai Peninsula

Planning and International Cooperation Minister Ashraf el-Arabi reviewed with visiting Sudanese Foreign Minister Ali Karti means of boosting cooperation between the two countries in the various domains. During a preparatory meeting on 27/8/2012 for the 8th higher Egyptian-Sudanese committee, the two ministers discussed ways to carry out strategic projects in the fields of investment, agricultural integration, animal production and bio-fuel production.

In another development, an agreement reached with Sudan to activate economic and trade relations with Sudan during the coming stage the agreement stipulated that eliminating obstacles facing businessmen and investors for setting up joint projects and boosting investments, especially in the agricultural and tourist fields as well as energy and industry. The volume of trade exchange between Egypt and Sudan is expected to double to reach two billion US dollar in the coming five years, especially after inaugurating the land road linking Dongle and Aswan.