Egypt is targeting $15bn in foreign direct investment (FDI) during the fiscal year (FY) 2017/2018, Minister of Investment Ashraf Salman announced during the American Chamber of Commerce conference.
Salman added that the target for gross domestic product (GDP) is 6% while the target budget deficit is to be lower than 10% of GDP.
Discussing the remaining goals for FY 2017/2018, Salman said that the government is “targeting to see the poverty rate lower than 20%”.
The minister of investment discussed the Investment Law saying that its core change is what is called the “one-stop shop”.
The minister added that the government seeks equal treatment for both local and foreign investments.
Daily News Egypt
12 November
