Egypt views Biden’s Middle East visit as a chance to attract more American investment

CAIRO, 16 July 2022, (TON): In May, Egyptian Prime Minister Mostafa Madbouly told a visiting US trade delegation that the total value of American investments in Egypt in the fiscal year 2021-22 was $24 billion.

He said “this amount represented an increase of about $15 billion over the figure for the same period in 2020-21, and the investments were concentrated mainly in the fields of energy, petrochemicals, infrastructure, tourism, agriculture and industry.”

At the time, Madbouly called on American companies to form partnerships with the Egyptian government and invest in the energy sector and green projects.

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