Kuwaiti investments in Egypt total $4.7 bln: Kuwait's finance minister

CAIRO, April 27 (MENA) – Kuwaiti investments in Egypt register $4.7 billion through 1,302 companies working in the fields of industry, finance, real estate, tourism, services and agriculture, Kuwaiti Minister of Finance Nayef Falah said.

Falah, who is also the chairman of the Kuwait Investment Authority, made the remarks during his meeting with Minister of Investment and International Cooperation Sahar Nasr on the sidelines of meetings of Arab finance institutions, currently taking place in Kuwait.

The two sides agreed on boosting joint investments, encouraging businessmen in both countries to inject new investments and inviting Kuwaiti investors to visit Egypt to get posted on the promising investment opportunities available in the country, the investment ministry said in a statement Saturday.

Nasr reviewed during the meeting Egypt’s investment opportunities, particularly with regard to mega national projects, such as the New Administrative Capital, the Suez Canal Corridor and New Alamein City.

The minister noted that a system is being drawn up to increase cooperation between the public and private sectors, with the private sector pumping new investments.