Egypt’s New Investment Minister Says To Lure More FDISource: www.export-egypt.com 6/17/2014, Location: Africa |
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Egyptian Prime Minister Ibrahim Mehleb appointed veteran banker Ashraf Salman as investment minister, state-run news website al-Ahram said.
The decision to appoint a separate investment minister reverses a decision this year to merge the ministry with that of industry and trade, and could help Cairo entice back foreign funds to stimulate an economy racked by years of political turmoil. In an exclusive to Youm7 website, Salman said he will give top priority to attracting foreign direct investments as this would create more job opportunities and lower poverty rates. Al-Ahram said Hany Dimian would remain finance minister and Mounir Fakhry Abdel Nour would stay on as minister of industry. Most ministers in other key economic and security posts, including Interior Minister Mohamed Ibrahim, were expected to stay on. Salman, a U.S.-educated investment banker is the co-founder and co-CEO of Cairo Financial Holding, an Egyptian asset management, corporate finance and investment banking firm, according to Reuters. He previously held a senior position at Arab African International Bank-Egypt and has worked on privatisation policies, according to the Cairo Financial Holding website. |
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