Kuwaiti-European group considers investing $1bn

Head of the General Authority for Investment (GAFI) Mohamed Khdeir discussed on Tuesday with a delegation of the Kuwaiti-European holding group the desire of the group to invest in Egypt and establish a multi-service integrated city.

The city would include entertainment areas, a housing complex and a mall at investments worth 1 billion dollars providing more than 35,000 job opportunities.

Khodeir reviewed the plan of the ministry of investment and GAFI to encourage investments and highlight the reform measures to facilitate investments and remove the red-tape that hinders the work of investors.

For his part, the head of the delegation said the group was choosing the best markets for investments topped by Egypt.

The Kuwaiti-European holding group owns companies working in the fields of financial services and health care.