Euromoney Egypt Conference 2007 opened here on Tuesday to mull several issues of the Egyptian economy, the official MENA news agency reported.
Topics of boosting real state, banking sectors as well as employment will top the agenda of the two-day conference, the report said.
Some Egyptian files such as inflation, unemployment, means to boost money market and investment atmosphere are to be tackled by Egyptian and foreign experts taking part in the event.
"The Egyptian government is doing its utmost to lure more foreign investments so as to increase economic growth and employment rates," MENA quoted Egyptian Investment Minister Mahmoud Mohieddin while addressing the conference earlier in the day.
The investment minister said late August that foreign direct investment (FDI) in Egypt reached 11.1 billion U.S. dollars in the fiscal year 2006/2007 (from July 1, 2006 to June 30, 2007) compared to 6.11 billion dollars in the previous fiscal year.
For his part, Minister of Finance Youssef Boutros Ghali who also attended the conference said Egypt economic development is on rise, expecting the current 7.1 percent growth rate of Egypt to up to 8-9 percent in the near future.
Founded in 1969, Euromoney is the world's leading organizer of conferences for cross-border investment and capital markets, according to the Euromoney website.
Egypt saw in 2006 a dramatic rise in foreign direct investment, alongside growth in the banking, construction and real estate sectors. Despite these developments, there are still problems which need to be addressed, namely inflation, employment, skills and training, added the Euromoney website.
Source: Xinhua
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