"Foreign investments in the fiscal year 2006/2007 reached $ 11.1 billion by an increase of $ 4.989 billion compared to the fiscal year 2005/2006,"said Investment Minister Mahmoud Mohie Eddin.
"Foreign investments in the fiscal year 2006/2007 reached $ 11.1 billion by an increase of $ 4.989 billion compared to the fiscal year 2005/2006,"said Investment Minister Mahmoud Mohie Eddin in exclusive statements to "Al-Aharam" during his visit to Syria.
Mohieddin said the 47 percent of foreign investments went to the establishments of companies and increasing capitals. "Twenty-eight percent of the foreign investments went to the oil sector while another 25 percent went to the acquisition of companies," Mohieddin added.
Foreign direct investments in the non-petroleum sectors surged to $ 8 billion two-fold the investments in the last fiscal year. "Tolls of selling state-owned companies reached $ 2.8 billion including Alexandria Bank deal," the minister said. "Foreign investments in real estate sector accounted for $ 39 million," Mohieddin said. Net volume of the investment in petroleum sector increased by 59 percent. "Britain, Netherlands, France, the US, Spain, Saudi Arabia, Libya, Banama, Bahrain, Italy, Lebanon, Iraq and Germany topped the list of the countries investing in Egypt," Mohieddin pointed out.
