Paris, 11 July 2007
Egypt became the first Arab and first African country to sign the OECD Declaration on International Investment and Multinational Enterprises, marking a new stage in Egypt's drive to attract more foreign direct investment (FDI).
A series of policy reforms have helped generate a fifteen-fold increase in Egypt’s FDI between 2001 and 2006, reaching a record USD 9 billion in the first three quarters of the 2007 fiscal year. This compares with USD 6.1 billion for the whole of 2006.
A Video of the signing ceremony at the OECD Paris headquarters was followed by a news conference with Egypt's Minister of Investment, Dr. Mahmoud Mohieldin, and OECD Secretary-General Angel Gurría. The news conference also presented the findings of the OECD Investment Policy Reviews: Egypt.
Egypt has chaired a joint Middle-East and North Africa-OECD Investment Programme and, in November 2007, hosted the second MENA-OECD Ministerial Meeting under the slogan of “Making reforms succeed: moving forward with the investment policy agenda”.
||OECD Secretary General Angel Gurría shares hands with Egyptian Minister of Investment, Dr. Mahmoud Mohieldin, sealing Egypt's adherence to the OECD Declaration on International Investment and Multinational Enterprises.
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