Egypt signs the OECD Declaration on International Investment and Multinational Enterprises

 

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.

 

Further information and documentation

Related news releases

OECD news release: Egypt to sign the OECD’s International Investment Declaration, Paris, 11 July 2007, 5 July 2007

OECD news release: Egypt should keep up pace of reform to attract more investment, says OECD , 11 July 2007