Egypt: Minister - Egypt-U.S. Fund to Establish U.S.$120 Million Projects in Egypt

The Egyptian-American Enterprise Fund will carry out an initiative to establish investment projects in Egypt worth $120 million, recently approved by the Congress, said Trade, Industry and Investment Minister Mounir Fakhri Abdel-Nour.

During a meeting with a visiting US State Department delegation, before its departure, Abdel-Nour said Egypt has great investment opportunities waiting for more US capital.

US companies operating in Egypt have achieved huge growth rates despite the difficult conditions in the country over the past two years, Abdel-Nour said.

The US administration has played an active role in backing Egypt in its present war against terrorism, he Abdel-Nour, adding that a new leaf needs to be turned between the two countries regarding political and economic relations.

The US delegation, led by advisers to the state secretary David Thorn and Thomas Shannon, left Egypt Thursday after a two-day visit.

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