Egypt in need of $100bln investments to bridge its funding gap

Egypt needs investments amounting to $100 billion over 5 years to bridge its $30 billion gap, Asharq Business reported on February 9th, citing Egyptian President Abdel Fattah El-Sisi.

El-Sisi, during the inauguration ceremony of the expansions of an industrial city SILO foods affiliated to the National Service Projects Organization (NSPO), confirmed that his country is working to encourage foreign investment through the golden licenses.

Meanwhile, Egyptian Minister of Supply Ali Moselhy said that Egypt’s wheat reserves are sufficient for up to 4.5 months, sugar reserves are sufficient for 3.5 months, while vegetable oil and rice’s reserves are sufficient for 4.9 months and 3 months, respectively

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