At a press conference on Saturday 07/02/2009 , Chairman of the General Authority for Investment and Free Zones (GAFI) Assem Ragab said investments in the Egyptian industrial, agricultural and construction sectors witnessed a boom in 2008 in comparison with 2007.
Investments in the industrial sector ratcheted up by 29 percent, in the agricultural sector by 23 percent, and in the construction sector by 41 percent, he said.
However, he said investments in the tourism and service sectors dipped in 2008 compared to 2007.
GAFI has drawn up a plan for cushioning the fallout of the international financial crunch to give momentum to investments and boost exports, he said.
The plan is meant to improve investment climate, encourage local and international business, and promote small and medium sized enterprises, he added.
Beside, the plan seeks to lure heavyweight industrial countries like China to give an impetus to their investments in Egypt, Ragab said.
It also aims at encouraging investments in all Egyptian governorates, particularly in retail and services domains, he said, noting that the infrastructure, especially of the transport sector, would be upgraded.
Meanwhile, a media campaign will be launched in the coming period to spread awareness about the best ways for doing business, he said, noting that ditching the May decisions on pricing energy served the interests of six oil companies.
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