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by Tian Xiaohang, Wang Lei
SHARM EL-SHEIKH Roberto Firmino Jersey , Egypt, March 15 (Xinhua) -- Egypt is experiencing stability and growth rich with potential for investment opportunities. However, it still needs to improve its investment climate and strengthen its infrastructure, said Cai Jinyong, CEO of the International Finance Corporation (IFC) Liverpool Jersey , the private investment arm of the World Bank Group.
Egypt's economic reform has shown preliminary results indicating positive growth, yet still with a bottleneck of insufficient infrastructure and energy, said Cai, who is also the Executive Vice President of IFC, in a recent exclusive interview with Xinhua on the sidelines of the Egypt Economic Development Conference (EEDC).
Approximately 90 countries Cristiano Ronaldo Jersey , some represented by heads of state, 25 organizations and international institutions, as well as world renown economists and diplomats, participated in the EEDC between March 13 and 15 at the Red Sea resort of Sharm El-Sheikh, seeking investment opportunities in Egypt.
Egypt's economy has been marred by political turmoil Giorgio Chiellini Jersey , protests and political polarization since 2011, which witnessed the ouster of long-ruling president Hosni Mubarak, followed by his predecessor Islamist leader Mohamed Morsi.
Since then, the country's annual growth rate has hovered around two percent, with sharp declines of foreign reserve Wojciech Szczesny Jersey , FDI and revenues of vital sectors, such as tourism.
With the reforms of the subsidies and taxation systems which aim to ease the pressure on the public budget during Sisi's tenure, Egypt displays positive signs in growth rate of 5.6 percent in the first half of current fiscal year, with rising tourist visits in recent months.
Cai believed the reforms carried out by the Egyptian authority are successful. The huge turnout at the EEDC also demonstrated the substantial interest by foreign countries and businessmen to invest in Egypt.
What's more, Cai believes Egypt exhibits great potential in extensive progress.
Before the EEDC kicked off Gianluigi Buffon Jersey , Egyptian investment minister Ashraf Salman told the media that Egypt aims to attract foreign direct investments to the tune of 60 billion U.S. dollars and to reach an average growth rate of 7 percent over the next four years.
"Egypt has considerable domestic demands in many sectors. Therefore, as long as reform is on the right track, the investment climate improves and the political situation remains stable, the objectives are achievable," Cai told Xinhua Juventus Jersey , stressing that implementation of the proper policies is key to economic dev. Cheap Jerseys China Cheap Jerseys From China Cheap Jerseys From China Cheap Jerseys Wholesale Cheap Jerseys Online Cheap Retro Jerseys Cheap Soccer Jerseys China Cheap Authentic NHL Jerseys Cheap Football Jerseys Cheap Baseball Jerseys