Egypt hopes projects will support economy

Head of the stock exchange Mohamed Abdel Salam said the projects will center on the infrastructure and that the stage to come will witness more projects with Egyptian, Arab and foreign investments, a matter which will enable the Egyptian economy to overcome the present transitional period.

Egyptian Prime Minister Essam Sharaf is reviewing a memorandum for Alexandria Business Association (ABA), including a number of proposals to push forward and activate the economic performance and overcome the challenges hindering the flow of new investments.

The memo focuses on the necessity of announcing a clear vision of economic orientations by the government and announcing its commitment of the signed agreements with the private sector.

The memo also aims at organizing promotion campaigns to lure new investments, especially from Arab countries.

The memo included a number of proposals to encourage local investments by offering financial facilities for small-and medium-sized enterprises and tax incentives for new projects.