Govt Commits To Foreign Investors’ Contracts: Osama Saleh

Egyptian Minister of Investment Osama Saleh stated that the Egyptian government is committed to all the agreements and contracts signed with the foreign investors.
In his keynote speech during Euromoney Conference 2012, Saleh said the government is considering two important ventures that will be presented for investment. They are developing the area of west Port Said’s port, which is considered one of the main ports in Mediterranean sea zone, and establishing “Safaga-Qena” road.
He pointed out that Shark Al Tafree’a project is a number of comprehensive projects in west Port Said. It aims at achieving the full development in west Port Said, opening new developmental horizons out of Wadi El Nile and Delta. Moreover, it seeks  redistributing Egypt’s population map within next 30 years, and providing more than half a million new job opportunities, and settling million people.
This project also includes establishing industrial zone in west Port Said, and Suez Canal tunnel, a train crosses the Canal, in addition to giant fish farms.
Saleh said the another project is establishing “Safaga-Qena” road as one of the broad  axis roads that links Red Sea cities to Upper Egypt provinces, in a bid to serve the traffic, and the tourism groups to Qena, Luxor and Aswan.
The minister added that the current period is witnessing several challenges, investment sector tops, as well aiming at attracting more local and foreign investments to the country in the coming period for boosting the national economy. The government is able to restore the economic balance through partnership with the private sector. A complete plans had been set for boosting, encouraging and attracting foreign and Arab investments; particularly after restoring political stability.