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27 August 12:00 AM

MIRASCO, several American firms express desire to invest in Egypt

MIRASCO Inc. – which distributes frozen meat commodities and animal feed ingredients to importers, distributors, and further processors in the United States and internationally – expressed desire to invest in Egypt to get a boon of the economic reforms, especially legislative reforms, carried out by the Egyptian government.

During a meeting with Egyptian Investment Minister Sahar Nasr on the fringe of the International Monetary Fund (IMF) Annual Spring Meetings, MIRASCO President Sami Rizk said his company seeks to investment in Egypt in view of the economic reforms adopted by the Arab state, the Egyptian Investment and International Cooperation Ministry said in a statement.

Also, representatives from a number of heavyweight American companies – who attended the meeting – also expressed desire to  pump investments in Egypt in the coming period.

The companies' representatives hailed the measures adopted by Egypt over the past period with an aim to improve the business climate, the statement added.

Meanwhile, Nasr hailed several American  companies, including General Electric, Honeywell and Kellogg's, for expanding their investments in Egypt in the past period.

Nasr said the Egyptian government is working hard to encourage private sector investments which is a locomotive for realizing economic growth rate, creating jobs, and curbing poverty.

She added that Egypt carried out many economic reforms, topped by the new investment law.

She noted that the government prioritizes the private sector's contribution to the development process, especially through taking part in mammoth national projects, topped by the Suez Canal development projects as well as the establishment of a number of new cities.

 She added that the Investment and International Cooperation Ministry launched an investment map to highlight investment opportunities nationwide.

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