Investors promised better loan conditions, gov’t commitment to stabilize FX at Investment Forum
Apparently, the CBE, Industry and Trade Ministry and a number of Egypt’s leading banks have agreed to base the size of loans offered to projects at the 10 mn sqm industrial zones on the investment value and not the size of assets, said Industry and Trade Minister Tarek Kabil at the Second Egyptian Investment Forum organized by the Federation of Egyptian Chambers of Commerce which kicked off on Sunday. Kabil also announced that land at the industrial zones which will be tendered next month. Also coming from the Forum was a meeting between President Abdel Fattah El Sisi, Investment Minister Dalia Khorshid with investors and representatives from global chambers of commerce organizations. The president noted how the stability of Egypt’s FX market is linked to the global economic conditions in addition to other domestic factors and confirmed that the government is committed to adopting all measures that shall lead to the stability of the foreign exchange market, according to a statement from Ittihadiya.