CAIRO: Minister of Investment Mahmoud Mohieddin, during his visit to France, held a series of meetings with representatives of more than 20 financial institutions, investment banks and real estate firms, reported the State Information Service. The minister reviewed economic reforms and measures adopted by Egypt to increase foreign direct and indirect investments. The minister was reported to have stated that such economic reforms contributed to the increase in Egyptian investments and trade movement. Mohieddin noted that foreign direct investments increased from $6.1 billion in the fiscal year 2005/2006 and to $7.2 billion during the first half of the fiscal year 2006/7. He attributed this increase to the economic reforms, and consequently economic growth rate surged to 6.9 percent in the fiscal year 2005/6. Mohieddin also pointed to the developments and reforms in stock exchange and real estate market during the last two years.
