8 September 2012

Egypt: Spokesman - Morsi's European Union Tour Aims to Attract Investments

President Mohamed Morsi's planned tour of Belgium and Italy next week aims to attract international investments to Egypt and boost relations with the European Union, said presidential spokesman Yasser Ali.

During his visit, Morsi will post European officials on steps taken by Egypt toward political, economic and administrative reform, Ali said in statements.

Morsi is keen to lure investments into the Egyptian market to raise job opportunities to the youth with 700,000 entering the labor market each year, he said.

The spokesman expected international companies to further invest in Egypt.

Several Chinese companies have expressed keenness to establish projects in Egypt, he said, making reference to the Qatari prime minister's announcement to pump investments worth $18 billion into Egypt within the next five years.

He also pointed out to a projected visit by a US business delegation to Egypt to explore investment opportunities in the country.

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