Foreign Investors Keen on Operating in Egypt

Investment Minister Osama Saleh denied claims that Saudi Arabia and the UAE refused to invest in Egypt after the outbreak of the January revolution. On the contrary, UAE Company "Emaar", for example, has announced recently plans to pump new investments in Egypt worth EGP 12.8 billion, Saleh said, adding that Saudi investors expressed the same interest. Asked about claims that the government would not be able to fulfill its commitments toward the citizens without a loan from the International Monetary Fund, the minister said Egypt needs the international body's acknowledgement that its economy can recover.