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Egypt: $ 200 mln investment expected this year- US official

Egypt: $ 200 mln investment expected this year- US official

Egypt

Egypt is expecting an investment worth some $ 200 million dollars from the United States by the end of 2018, according to Chief of Mission at the US embassy in Egypt.

The ecofin news agency said Thomas Goldberger made this known at the US Chamber of Commerce conference in Egypt on the sidelines of a visit by a delegation of 44 US companies to the North African nation.

Goldberger also said small businesses and entrepreneurs will receive funding of some 30 million US dollars.

In March 2018, direct US investments to Egypt totaled some 2.4 billion US dollars. The investments are in the services, construction, agriculture, industry and the information and community technology sectors.

It said these investments account for about 35. 4 percent of the total direct US investment in Africa, thus making Egypt the largest recipient of US investments in Africa and the second largest in the Middle East.

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