Minister of Investment and International Cooperation Sahar Nasr talks during an interview with Reuters in Cairo, Egypt June 21, 2017. REUTERS/Mohamed Abd El Ghany
CAIRO - 25 March 2019: US investments in Egypt totaled some $21.8 billion by the end of 2018, the investment minister said.
Some American companies increased their businesses and expanded in Egypt, pumping an additional $1 billion during the fiscal year 2017-2018, Sahar Nasr said in a statement Monday.
In a meeting with US Agency for International Development (USAID) administrator Mark Green, Nasr reviewed cooperation with the agency in Africa in light of Egypt's presidency of the African Union in 2019.
This entails support for policies of development funding in order to achieve comprehensive growth in the continent, the minister noted.
Cooperation with the USAID could very well translate into joint regional projects that would contribute to upgrading the infrastructure of and boosting integration among African countries, Nasr said.
Green was pleased with Egypt's socio-economic reform program, believing measures taken have improved the investment climate in the Arab country.
The USAID is seeking a strong economic partnership with Egypt in the coming stage, Green said.
The meeting took up efforts to support the drinking water and waste water sector and expand social protection programs in Egypt.