Lebanese investments in Egypt hit $5bln

ebanon's investments are mainly focused on the industrial sector and restaurants

  
A man counts U.S dollars at a money exchange office in central Cairo, Egypt, March 7, 2017. Image used for illustrative purpose.

A man counts U.S dollars at a money exchange office in central Cairo, Egypt, March 7, 2017. Image used for illustrative purpose.

REUTERS/Mohamed Abd El Ghany

Cairo - Lebanon's investments have reached about $5 billion in the Egyptian market in various sectors such as finance, industrial, service, and construction sectors, Promotion Manager of the General Authority for Investment and Free Zones (GAFI), Ahmed Zoheir, was cited by the Middle East News Agency.

The Lebanese investments in Egypt are mainly focused on the industrial sector and restaurants, Zoheir pointed out.

On a side note, the senior official said that the inauguration of the New Administrative Capital and the relocation of the government, ministries, and authorities to the new capital have created a lot of jobs and investment opportunities.

He noted that the government prioritises the communications and information technology sector, with plans to increase credit card and e-payment transactions to more than EGP 500 billion every year and inject investments worth $1.5 billion into the sector by the beginning of next year.

Source: Mubasher

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