Speaking to a large group of investors at a special luncheon hosted by the American Chamber of Commerce in Egypt and The Bank of New York, in New York, Egypt’s Minister of Investment, Dr. Mahmoud Mohieldin discussed recent government and business reforms and investment opportunities in Egypt. The Minister also talked about how the country is attracting investors on the basis of Egypt’s competitive labor costs, strategic location as an export hub, and numerous free trade agreements.

In his opening remarks, AmCham president Taher Helmy spoke of the increased levels of FDI flowing in all sectors of the Egyptian economy and from different sources across the globe. This diversity is an indication of widespread confidence in the Egyptian economy and increased credibility in its reform process, stated Helmy.

Sharing the panel with Dr. Mohieldin were Larry Lavine, Managing Director, Ripplewood Holding and Kevin Bannon, Executive Vice President, The Bank of New York. “We have been delighted with our investment in Egypt’s Commercial International Bank (CIB) and our experiences in Egypt,” Lavine commented, referring to their recently acquired 20% stake in CIB.

The luncheon, held at the Waldorf=Astoria Hotel in New York City, was attended by over 200 executives, representing major US finance and business corporations.