Egyptian PM meets investors

Egypt is open to investment, says Kandil Cairo - Akram Ali Egyptian Prime Minister Hisham Kandil has called on Arab investors to take advantage of the investment opportunities being offered by the government outside Cairo. Kandil met a delegation of businessmen and Arab investors to discuss ways of enhancing their investments in Egypt, and to accelerate the implementation of projects under construction, in addition to looking at investment opportunities in Egypt during the next six months. Delegates said that they are willing to invest in a range of new projects in 2013, with an the planned investment of 7.8 billion Egyptian pounds in tourism and commercial projects expected to create 14,500 jobs during the construction phases, and 22,700 jobs after completion. In a statement after the meeting, the Prime Minister said: "The government is keen to support and promote foreign and domestic investment. We want to solve a number of problems faced by foreign companies and have prepared an investment plan for Egypt. We are willing to facilitate the procedures for the registration of companies and raising the efficiency of facilities and infrastructure to serve the industrial areas."