Egypt has become attractive destination for FDI: US ambassador to Cairo

Egypt has become more attractive for foreign direct investment and has the potential to attract more investments, Jonathan Cohen, US ambassador to Egypt said on Tuesday.

He said that Egypt has attractive incentives, including its labour force, transportation networks, solid infrastructure, and advancements in communications, making it qualified to receive more FDI.

Cohen was speaking on the sidelines of the American Chamber of Commerce (AmCham) monthly luncheon meeting held at the Conrad Hotel.

Egypt has the potential to become a regional energy hub, he added, as it has made notable achievements in the oil and gas sector over the past seven years, which has transformed it from a gas importer to a gas exporter.