US investments in Egypt up by $2.33bn

The volume of America investments in Egypt has increased by 2.33 billion dollars over the past few years, according to Investment Minister Dalia Khorshid.

The US ranks eighth on the list of foreign investments in Egypt, Khorshid said in the annual meeting of the general assembly of American Chamber of Commerce (AmCham) in Cairo Tuesday.

American investments cover the fields of communications and IT, construction, trade, financial services, agriculture and tourism, the minister said.

According to her, today's meeting is important because it sheds light on the history of trade relations between Cairo and Washington.

Khorshid thanked members of the AmCham for their role in supporting trade relations between the two countries.

Egypt is full of potentials that qualify for bigger investments in the car and drug industries, she noted.

Khorshid also stressed that the Egyptian government considers the private sector a key player in economic growth.