/ 14 October 1999

US EYES EGYPT INVESTMENTS

US Commerce Secretary William Daley on Thursday sounded out Egypt’s new pro-privatization prime minister Atef Ebeid about investment and business opportunities for US firms in Egypt. “As privatizations have moved forward in Egypt, there has been an increase in US investment because of those privatizations. The prime minister encourages US companies to look at these privatizations and we will do everything we can to advocate on their behalf as they move forward,” Daley said after a meeting with Ebeid. The US secretary said there are around $15-billion to $17-billion invested in Egypt, including in the energy sector.